Do institutional changes affect business cycles? Evidence from Europe

Fabio Canova, Matteo Ciccarelli and Eva Ortega

Journal of Economic Dynamics and Control, 2012, vol. 36, issue 10, 1520-1533

Abstract: We study the effects that the Maastricht Treaty, the creation of the ECB, and the Euro changeover had on the dynamics of European business cycles using a panel VAR and data from 10 European countries—seven from the Euro area and three outside of it. There are changes in the features of European business cycles and in the transmission of shocks. They precede the three events of interest and are more linked to a general process of European convergence and synchronization.

Keywords: Business cycles; European Monetary Union; Panel VAR; Structural changes (search for similar items in EconPapers)
JEL-codes: C15 C33 E32 E42 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (50)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165188912000942
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Do institutional changes affect business cycles? Evidence from Europe (2012)
Working Paper: Do institutional changes affect business cycles? Evidence from Europe (2009)
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:eee:dyncon:v:36:y:2012:i:10:p:1520-1533

DOI: 10.1016/j.jedc.2012.03.017

Access Statistics for this article

Journal of Economic Dynamics and Control is currently edited by J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok

More articles in Journal of Economic Dynamics and Control from Elsevier
Bibliographic data for series maintained by Catherine Liu ().