The Spanish Business Cycle and its Relationship to Europe

Eva Ortega

Working Papers from Banco de España

Abstract: This paper studies the relationship between Spanish real aggregate fluctuations and those of its Europe neighbors in the last decades. It studies the ability of alternative International Real Business Cycle models (based on Backus, Kehoe and Kydland (1994) with different degrees of international interdependencies, to capture the observed comovement between the Spanish and European business cycles and compares the fit of those models using a probabilistic measure based on Gregory and Smith (1991, 1993) and Canova (1994, 1995).

Keywords: BUSINESS CYCLES; EUROPE; SPAIN (search for similar items in EconPapers)
JEL-codes: E17 E32 (search for similar items in EconPapers)
Pages: 69 pages
Date: 1998
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:9819

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