European Business Cycle Synchronization: A Complex Network Perspective
Theophilos Papadimitriou (),
Periklis Gogas and
Georgios Sarantitis ()
Additional contact information
Theophilos Papadimitriou: Democritus University of Thrace
Periklis Gogas: Democritus University of Thrace
A chapter in Network Models in Economics and Finance, 2014, pp 265-275 from Springer
Abstract In this paper we attempt to provide empirical evidence on the issue of business cycle synchronization within Europe. The issue of business cycle convergence is important and very topical as it is a prerequisite for the implementation of an effective and successful monetary policy within a monetary union. We employ Complex Network metrics and we identify the corresponding Minimum Dominating Set of 22 European countries in terms of their GDP growth. An obvious focal point for our comparison of business cycle convergence is the adoption of a common currency (the euro) in 1999. By doing so, we reveal the evolution of GDP growth co-movement patterns of the European economies before and after the introduction of the euro. The main findings from our empirical analysis provide evidence in favor of macroeconomic convergence after the introduction of the common currency.
Keywords: Monetary Policy; Business Cycle; Monetary Union; European Monetary Union; Common Currency (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Working Paper: European Business Cycle Synchronization: a Complex Network Perspective (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:spochp:978-3-319-09683-4_13
Ordering information: This item can be ordered from
Access Statistics for this chapter
More chapters in Springer Optimization and Its Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().