External Influences on Business Cycle Synchronization in the Euro Area

Jason Jones (), Nora Collins () and Lauren Sribnick ()

International Advances in Economic Research, 2012, vol. 18, issue 1, 28-39

Abstract: Most studies of business cycle synchronization in the EMU identify a core set of counties with high synchronization and a periphery set of countries with low synchronization. Using a structural VAR with model uncertainty, we identify spillover effects from shocks that originate in the United States, the EMU, and the rest of the world to test whether external influences can explain the existence of the core and periphery. Most countries typically found in the core respond to external spillovers in similar ways, leading to more synchronized business cycles. The response to external influences in the countries traditionally found in the periphery, on the other hand, help explain their exclusion from the core. Copyright International Atlantic Economic Society 2012

Keywords: Business cycle synchronization; EMU; Spillovers (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1007/s11294-011-9339-7 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:kap:iaecre:v:18:y:2012:i:1:p:28-39:10.1007/s11294-011-9339-7

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/11294

DOI: 10.1007/s11294-011-9339-7

Access Statistics for this article

International Advances in Economic Research is currently edited by Katherine S. Virgo

More articles in International Advances in Economic Research from Springer, International Atlantic Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().