Has the Euro changed the business cycle?
نویسندگان
چکیده
منابع مشابه
Has the Business Cycle Changed? Evidence and Explanations
Over the past 30 years, economic activity has become less volatile in most G-7 countries. In the United States, for example, the standard deviation of the growth rate of GDP averaged over four quarters was one-third less during 1984 to 2002 than it was during 1960 to 1983. This decline in volatility is widespread across sectors within the United States and is also found in the other G-7 economi...
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In early 1996 the Bureau of Economic Analysis released data from an extensive revision to its measures of aggregate economic activity in the United States. The new data and methodology, which represent the first comprehensive revision of the National Income and Product Accounts (NIPA) since 1991, reflect more substantial changes than have many previous revisions.1 While past revisions have chan...
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We use wavelets, cross-wavelets, wavelet-phase analysis, wavelet-clustering and multidimensional mapping to study business cycle synchronization across countries that are part of the Euro12 Area. Based on the wavelet spectra, we propose a metric to measure business cycle disynchronicity. We identify Germany, France, Spain, Austria and the Benelux countries as the core of the Euroland and anothe...
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This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine, we construct several monthly series of Euro area real GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration across business cycle phases, we propose to extend this method with a combined amplitude/phase-len...
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In the recent European debt crisis, internal migration flows in the euro area reacted strongly to diverging labor market conditions. This experience points towards the prominent role of short-term business cycle migration in the euro area and the consequent need to understand the motives behind it. We start by an empirical investigation of the business cycle in 59 bilateral migration corridors ...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2013
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2012.12.003