A Tale of Two Cycles: Co‐Fluctuations Between UK Regions and the Euro Zone
Salvador Barrios (),
Marius Brülhart,
Robert Elliott () and
Marianne Sensier ()
Manchester School, 2003, vol. 71, issue 3, 265-292
Abstract:
We examine the patterns and determinants of business cycle correlations among 11 UK regions and six euro‐zone countries over the 1966–97 period, using the generalized method of moments to allow for sampling error in comparing estimated correlations. The British business cycle is found to be persistently out of phase with that of the main euro‐zone economies, and the trend is towards lower correlations. We detect only minor cyclical heterogeneity among UK regions. Differences in sectoral specialization drive some of the asymmetry in GDP fluctuations, but they do not appear significant in explaining the observed reduction in UK–EU business cycle correlations over time.
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)
Downloads: (external link)
https://doi.org/10.1111/1467-9957.00346
Related works:
Working Paper: A Tale of Two Cycles: Co-fluctuations Between UK Regions and the Euro Zone (2002) 
Working Paper: A Tale of Two Cycles: Co-Fluctuations Between UK Regions and the Euro Zone (2001) 
Working Paper: A Tale of Two Cycles: Co-fluctuations Between UK Regions and the Euro Zone (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:71:y:2003:i:3:p:265-292
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1463-6786
Access Statistics for this article
Manchester School is currently edited by Keith Blackburn
More articles in Manchester School from University of Manchester Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().