Evidence on Common Features and Business Cycle Synchronization in Mercosur

Carlos Carrasco-Gutierrez and Fábio Gomes

Brazilian Review of Econometrics, 2009, vol. 29, issue 1

Abstract: The aim of this work is to analyze the business cycles of the Mercosurís member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge- Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in frequency domain. Despite the evidence of common features, the results suggest that the business cycles are not synchronized. This may generate an enormous dificulty to intensify the agreements into Mercosur

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://periodicos.fgv.br/bre/article/view/2695 (text/html)

Related works:
Working Paper: Evidence on Common Features and Business Cycle Synchronization in Mercosur (2009)
Working Paper: Evidence on Common Feature and Business Cycle Synchronization in Mercosur (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:sbe:breart:v:29:y:2009:i:1:a:2695

Access Statistics for this article

Brazilian Review of Econometrics is currently edited by Daniel Monte

More articles in Brazilian Review of Econometrics from Sociedade Brasileira de Econometria - SBE Contact information at EDIRC.
Bibliographic data for series maintained by Núcleo de Computação da FGV EPGE ().