Evidence on Common Feature and Business Cycle Synchronization in Mercosur
Carlos Enrique Carrasco-Gutierrez and
Authors registered in the RePEc Author Service: Carlos Enrique Carrasco Gutierrez ()
MPRA Paper from University Library of Munich, Germany
The aim of this work is to analyze the business cycles of Mercosur member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge-Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in frequency domain. Despite the evidence of common features, the results suggest that the business cycles are not synchronized. This may generate an enormous difficulty to intensify Mercosur agreements.
Keywords: Mercosur; Business Cycles; Trend-Cycle Decomposition; Common Features; Spectral Analysis. (search for similar items in EconPapers)
JEL-codes: C32 E32 F02 F23 (search for similar items in EconPapers)
Date: 2007, Revised 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Published in Brazilian Review of Econometrics 1.29(2009): pp. 37-58
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/66064/1/MPRA_paper_66064.pdf original version (application/pdf)
Journal Article: Evidence on Common Features and Business Cycle Synchronization in Mercosur (2009)
Working Paper: Evidence on Common Features and Business Cycle Synchronization in Mercosur (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:66064
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().