Business cycle phases in Spain

Maximo Camacho, Matías Pacce and Camilo Ulloa

No 17/20, Working Papers from BBVA Bank, Economic Research Department

Abstract: We characterize regional business cycles for Spain using monthly Social Security affiliations. Based on a set of Markov-switching models, we find substantial synchronization of regional business cycles, which has increased since the Great Recession. We do however evidence a regional leading and lagging performance that repeats itself across the different recessions.

Keywords: Working Paper; Economic Analysis; Spain (search for similar items in EconPapers)
JEL-codes: C22 E27 E32 (search for similar items in EconPapers)
Date: 2017-09
New Economics Papers: this item is included in nep-bec, nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:bbv:wpaper:1720

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