Testing cyclical convergence with the factor model in the Euro Area
Maria Jesús Delgado-Rodriguez () and
de Lucas Santos Sonia
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Maria Jesús Delgado-Rodriguez: Universidad Rey Juan Carlos
Authors registered in the RePEc Author Service: Maria Jesus Delgado Rodriguez ()
Economics Bulletin, 2013, vol. 33, issue 3, 2245-2250
In this paper we use the factor model and propose a parametric approach to investigate the process of cyclical convergence in the Euro Area (EA) over the period 1989-2011. Our results show that despite the fact that EA countries share a common business cycle, further convergence after the run-up period to the euro is found not to have been reached.
Keywords: Business cycle; Factor loadings; Structural Stability; Cyclical convergence (search for similar items in EconPapers)
JEL-codes: F4 E3 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-13-00573
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