Revisiting business cycle synchronisation in the European Union

Antonio Afonso and Ana Sequeira

No 2010/22, Working Papers Department of Economics from ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa

Abstract: We assess the business cycle synchronization features of aggregate output in the 27 EU countries using annual data for the period 1970-2009. In particular, we compute measures of synchronisation for private consumption, government spending, gross fixed capital formation, exports and imports. Our results show a rise in synchronization over the full period, and although private consumption is the biggest component of GDP, external demand tends to be a more important determinant of business cycle synchronization.

Keywords: EU; business cycle synchronization. (search for similar items in EconPapers)
JEL-codes: E32 F15 F41 F42 (search for similar items in EconPapers)
Date: 2010-11
New Economics Papers: this item is included in nep-bec, nep-eec and nep-mac
References: View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:ise:isegwp:wp222010

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