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Regional Business Cycle Synchronization in Europe

Lourdes Acedo Montoya and Jakob de Haan ()
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Lourdes Acedo Montoya: European Commission

No 11, Bruges European Economic Research Papers from European Economic Studies Department, College of Europe

Abstract: We analyse regional business cycle synchronization in the Euro Area, using Gross Value Added in 53 NUTS 1 regions for a period of thirty years (1975-2005), detrended by Hodrick-Prescott and the Christiano-Fitzgerald filters. We conclude that, on average, synchronization has increased for the period considered with exceptions during the eighties and the beginning of the nineties. Still, the correlation of the business cycle in some regions with the benchmark remained low or even decreased. Our findings also support the hypothesis of the existence of a ‘national border’ effect.

Keywords: business cycles; synchronization of business cycles; regions. (search for similar items in EconPapers)
JEL-codes: E32 F42 (search for similar items in EconPapers)
Date: 2007-06
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Journal Article: Regional business cycle synchronization in Europe? (2008) Downloads
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