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Has the Euro-Mediterranean partnership affected Mediterranean business cycles?

Fabio Canova () and Alain Schlaepfer ()

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: We date turning points of the reference cycle for 19 Mediterranean countries and analyze their structure and interdependences. Fluctuations are volatile and not highly correlated across countries; recessions are deep but asynchronous making average output losses in the area limited. Heterogeneities across countries and regions are substantial. Mediterranean cycles are time varying but their evolution is not linked with the Euro-Mediterranean partnership process. The concordance of cyclical fluctuations is poorly related to trade and financial linkages and to their evolution over time.

Keywords: Turning point dates; Reference cycles; Euro-Mediterranean partnership; trade and financial interdependences (search for similar items in EconPapers)
JEL-codes: E32 C32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-bec, nep-cba, nep-eec, nep-mac and nep-mic
Date: 2011-02, Revised 2012-05
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Related works:
Journal Article: Has the Euro‐Mediterranean Partnership Affected Mediterranean Business Cycles? (2015) Downloads
Working Paper: Has the Euro-Mediterranean partnership affected Mediterranean business cycles? (2014) Downloads
Working Paper: Has the Euro-Mediterranean Partnership Affected Mediterranean Business Cycles? (2012) Downloads
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