Will business cycles in the euro area converge? a critical survey of empirical research
TLDR
In this article, a 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 synchronisation.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.read more
Citations
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Measuring the Frequency Dynamics of Financial Connectedness and Systemic Risk
Jozef Baruník,Tomáš Křehlík +1 more
TL;DR: In this paper, the authors propose a new framework for measuring connectedness among financial variables that arise due to heterogeneous frequency responses to shocks, based on the spectral representation of variance decompositions.
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Trade and business cycle synchronization in OECD countries: A re-examination
TL;DR: In this paper, the authors re-examine the relationship between trade intensity and business cycle synchronization for 21 OECD countries in the period 1970-2003 and confirm that trade intensity affects synchronization, but the effect is much smaller than previously reported.
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Measuring the frequency dynamics of financial connectedness and systemic risk
Jozef Baruník,Tomas Krehlik +1 more
TL;DR: In this article, the authors propose a new framework for measuring connectedness among financial variables that arises due to heterogeneous frequency responses to shocks, based on the spectral representation of variance decompositions.
Journal ArticleDOI
Is the demographic dividend an education dividend
TL;DR: Using a global panel of countries, it is found that after the effect of human capital dynamics is controlled for, no evidence exists that changes in age structure affect labor productivity and that improvements in educational attainment are the key to explaining productivity and income growth.
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Do european business cycles look like one
TL;DR: In this article, the authors analyze if each European country presents business cycles that are similar enough to validate what some authors call the European cycle and find no clear relation between similarities in business cycle appearance and synchronization across countries.
References
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