Business Cycle Synchronization (business + cycle_synchronization)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Business Cycles under Monetary Union: A Comparison of the EU and US

ECONOMICA, Issue 267 2000
Mark A. Wynne
This paper documents business cycle similarities and differences among the12 Federal Reserve districts in the USA and the 15 countries that make upthe EU. The comparison is suggestive of what might be expected to emerge inthe way of business cycle synchronization from a monetary union between themember states of the EU. [source]

The transmission mechanism in a changing world

JOURNAL OF APPLIED ECONOMETRICS, Issue 1 2007
Michael Artis
The paper aims to identify those factors that cause changes in the speed and strength of the international transmission of output shocks from the USA to specified European economies. These factors are identified through the use of generalized impulse response functions conditioned on histories defined by an abrupt transition VAR. The chosen transition variables comprise changes in exchange rates, financial prices, international capital flows, trade links and monetary policy instruments. Besides the identification of asymmetric responses, the proposed model is useful in analyzing the strong effect of the recent US recession on the European economies and changes in business cycle synchronization over time. Copyright © 2007 John Wiley & Sons, Ltd. [source]

WILL BUSINESS CYCLES IN THE EURO AREA CONVERGE?

JOURNAL OF ECONOMIC SURVEYS, Issue 2 2008
A CRITICAL SURVEY OF EMPIRICAL RESEARCH
Abstract This survey of business cycle synchronization in the European monetary union focuses on two issues: have business cycles become more similar, and which factors drive business cycle synchronization. We conclude that business cycles in the euro area have gone through periods of both convergence and divergence. Still, there is quite some evidence that during the 1990s business cycle synchronization in the euro area has increased. Higher trade intensity is found to lead to more synchronization, but the point estimates vary widely. The evidence for other factors affecting business cycle synchronization is very mixed. [source]