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HOW BUSINESS CLIMATE AFFECTS THE ECONOMIC CYCLES OF FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDS IN EU

Dimitar Stefanov Radilov () and Georgi Malinov Chervenski ()
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Dimitar Stefanov Radilov: University of Economics – Varna
Georgi Malinov Chervenski: University of Economics – Varna

Economics and Management, 2016, vol. 12, issue 2, 103-110

Abstract: The paper proposes a methodology for testing the degree of synchronization between the business climate and economic cycles in the final consumption expenditure of households for six countries in Central and Eastern Europe. It is measured by crosscorrelation coefficients taking into account different time lags. The results show that the following indicator financial situation over the next 12 months is procycle. The indicator for unemployment expectations over the next 12 months is countercycle.

Keywords: economic cycles; business climate; final consumption expenditure of households; cross-correlation; synchronization (search for similar items in EconPapers)
JEL-codes: E21 E32 (search for similar items in EconPapers)
Date: 2016
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