ClubMed? Cyclical Fluctuations in the Mediterranean Basin

Matteo Ciccarelli and Fabio Canova

No 532, Working Papers from Barcelona School of Economics

Abstract: We investigate the similarities of macroeconomicfluctuations in the Mediterranean basin and their convergence. A model with three geo-political indicators, covering the West, the East and the MENA portions of the Mediterranean, characterizes well the historical experience since the early 1980. Convergence and divergence coexist in the region and are reversible. Except forn the West, domestic cyclical fluctuations are still due to national and idiosyncratic causes. The outlook for the next few years looks rosier for the MENA and the East blocks than for the West.

Keywords: Business cycles; Bayesian methods; Mediterranean basin; Developing and developed countries (search for similar items in EconPapers)
JEL-codes: C11 C33 E32 (search for similar items in EconPapers)
Date: 2015-09
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: ClubMed? Cyclical fluctuations in the Mediterranean basin (2012)
Working Paper: ClubMed? Cyclical fluctuations in the Mediterranean basin (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:532

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