Revisiting Business Cycle Synchronisation in the European Union
ISEG Economics Working Paper No. 22/2010/DE/UECE
37 Pages Posted: 27 Nov 2010
Date Written: November 26, 2010
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
JEL Classification: E32, F15, F41, F42
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Shocking Aspects of European Monetary Unification
By Tamim Bayoumi and Barry Eichengreen
-
International Business Cycles: World, Region, and Country-Specific Factors
By M. Ayhan Kose, Chris Otrok, ...
-
Understanding Changes in International Business Cycle Dynamics
By James H. Stock and Mark W. Watson
-
Trade, Finance, Specialization and Synchronization
By Jean M. Imbs
-
Trade, Finance, Specialization and Synchronization
By Jean M. Imbs
-
Trade, Finance, Specialization, and Synchronization
By Jean M. Imbs
-
Risk Sharing and Industrial Specialization: Regional and International Evidence
By Bent E. Sørensen, Sebnem Kalemli-ozcan, ...
-
Sectoral and National Aggregate Disturbances to Industrial Output in Seven European Countries