Business cycle patterns in European regions

Ana Gómez-Loscos, M. Dolores Gadea () and Eduardo Bandres ()
Additional contact information
M. Dolores Gadea: University of Zaragoza
Eduardo Bandres: University of Zaragoza

Empirical Economics, 2020, vol. 59, issue 6, No 3, 2639-2661

Abstract: Abstract The aim of this paper is threefold. First, we analyze the comovements of business cycles in European regions. Second, we date these business cycles and identify clusters of regions with similar business cycle behavior, using Finite Mixture Markov models. Third, we develop a new index to measure within-country homogeneity. We find that comovement among regions is, on average, quite low, although it increased during the convergence process prior to the euro cash and after the onset of the Great Recession. We identify five different groups of European regions. We also find heterogeneity in the size of border effects.

Keywords: Business cycle dating; Comovements; Clusters; Regions; Finite Mixture Markov models (search for similar items in EconPapers)
JEL-codes: C32 E32 R11 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://link.springer.com/10.1007/s00181-019-01743-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
Working Paper: Business cycle patterns in European regions (2018)
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:spr:empeco:v:59:y:2020:i:6:d:10.1007_s00181-019-01743-z

Ordering information: This journal article can be ordered from
http://www.springer. ... rics/journal/181/PS2

DOI: 10.1007/s00181-019-01743-z

Access Statistics for this article

Empirical Economics is currently edited by Robert M. Kunst, Arthur H.O. van Soest, Bertrand Candelon, Subal C. Kumbhakar and Joakim Westerlund

More articles in Empirical Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().