Utilize este identificador para referenciar este registo: http://hdl.handle.net/1822/13720

TítuloBusiness cycle synchronization and the Euro: a wavelet analysis
Autor(es)Conraria, Luís Aguiar
Soares, M. J.
Palavras-chaveBusiness cycle synchronization
European Union Integration
Continuous wavelet transform
Wavelet distance matrix
Multidimensional scaling
DataSet-2011
EditoraElsevier
RevistaJournal of Macroeconomics
Resumo(s)We use wavelet analysis to study business cycle synchronization across the EU-15 and the Euro-12 countries. Based on the wavelet transform, we propose a metric to measure and test for business cycles synchronization. Several conclusions emerge. France and Germany form the core of the Euro land, being the most synchronized countries with the rest of Europe. Portugal, Greece, Ireland and Finland do not show statistically relevant degrees of synchronization with Europe. We also show that some countries (like Spain) have a French accent, while others have a German accent (e.g., Austria). Perhaps surprisingly, we find that the French business cycle has been leading the German business cycle as well as the rest of Europe. Among the countries that may, in the future, join the Euro, the Czech Republic seems the most promising candidate.
Tipoarticle
URIhttp://hdl.handle.net/1822/13720
DOI10.1016/j.jmacro.2011.02.005
ISSN0164-0704
Versão da editorahttp://dx.doi.org/doi:10.1016/j.jmacro.2011.02.005
Arbitragem científicayes
AcessoopenAccess
Aparece nas coleções:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica
DMA - Artigos (Papers)

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