Acedo Montoya, Lourdes and de Haan, Jakob (2007) Regional Business Cycle Synchronization in Europe? Bruges European Economic Research (BEER) Papers 11/June 2007. [Policy Paper]
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Abstract
We analyse regional business cycle synchronization in the Euro Area, using Gross Value Added in 53 NUTS 1 regions for a period of thirty years (1975-2005), detrended by Hodrick-Prescott and the Christiano-Fitzgerald filters. We conclude that, on average, synchronization has increased for the period considered with exceptions during the eighties and the beginning of the nineties. Still, the correlation of the business cycle in some regions with the benchmark remained low or even decreased. Our findings also support the hypothesis of the existence of a ‘national border’ effect.
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| Item Type: | Policy Paper |
|---|---|
| Uncontrolled Keywords: | business cycles, synchronization of business cycles, regions. |
| Subjects for non-EU documents: | EU policies and themes > Policies & related activities > economic and financial affairs > business/private economic activity |
| Subjects for EU documents: | UNSPECIFIED |
| EU Series and Periodicals: | UNSPECIFIED |
| EU Annual Reports: | UNSPECIFIED |
| Series: | Series > College of Europe (Brugge) > Bruges European Economic Research Papers (BEER) |
| Depositing User: | Phil Wilkin |
| Official EU Document: | No |
| Language: | English |
| Date Deposited: | 18 Dec 2014 13:25 |
| Number of Pages: | 24 |
| Last Modified: | 18 Dec 2014 13:25 |
| URI: | http://aei.pitt.edu/id/eprint/58575 |
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