Business cycle transmission between France and United Kingdom
نویسندگان
چکیده
Purpose The literature mostly investigates the business cycle transmission of United Kingdom (UK) and France as a part wider group (e.g. European Exchange Rate Mechanism or G7), despite their historical links regional significance. Thus, herein paper aims to analyse inter-dependence these economies how shock from one them affects other for data since 1978 2019. Design/methodology/approach In this paper, first, preliminary statistics were calculated in order describe relationship between countries. econometric estimates vector auto-regression model (VAR) assess economies. VAR allows further inspect impulse response functions that shows dynamics country another. verify if is important another, study uses granger causality test. Findings establishes strong link A transmitted significantly UK, with single standard deviation resulting long term effect 0.4% change gross domestic product (GDP) UK 1% vice versa. Additionally changes GDP both countries Granger-cause corresponding economy. Originality/value This first empirical investigating providing quantitative assessment inter-dependence.
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ژورنال
عنوان ژورنال: Journal of Economic Studies
سال: 2023
ISSN: ['0144-3585', '1758-7387']
DOI: https://doi.org/10.1108/jes-01-2023-0044