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Dating and synchronisation of regional business cycles in Spain

Eduardo Bandrés, María-Dolores Gadea and Ana Gómez-Loscos ()
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Eduardo Bandrés: Universidad De Zaragoza Y Funcas
María-Dolores Gadea: Universidad De Zaragoza

No 2107, Occasional Papers from Banco de España

Abstract: The analysis of the regional business cycles in Spain highlights a high degree of similarity in the developments of most regions, but also shows idiosyncratic behaviour that mainly affects the duration and intensity of recessions. Such idiosyncratic behaviour would advise complementing national policies with specific policies aimed at certain territories. This paper adopts two complementary approaches in order to comprehensively date and analyse regional business cycles: the first uses an annual aggregate indicator such as GDP, for which a long series is available; the second focuses on a set of specific monthly indicators for a more recent period and provides a more accurate characterisation of the reference cycle.

Keywords: regional cycles; synchronisation; clusters (search for similar items in EconPapers)
JEL-codes: C32 E32 R11 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2021-02
New Economics Papers: this item is included in nep-isf and nep-mac
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