Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/20055

TitleConvergence of economic sentiment cycles in the euro area : a time-frequency analysis
Author(s)Conraria, Luís Aguiar
Martins, Manuel M. F.
Soares, M. J.
KeywordsBusiness cycle similarity and synchronization
Economic sentiment
Euro area
Continuous wavelet transform
Wavelet coherency
Wavelet distance
Phase-difference
Issue date2012
PublisherWiley
JournalJournal of Common Market Studies
Abstract(s)We use wavelet tools and Economic Sentiment Indicators to study the similarity and synchronization of economic cycles in the Euro Area. We assess the time-varying and frequency-varying pattern of business cycles synchronization in the Area and test the impact of the creation of the Economic and Monetary Union in 1999. Among several results, we find that (a) EMU is associated with a significant increase in the similarity and synchronization of the economic sentiment in the Euro Area; (b) the hard-peg of its currency to the Euro led to a comparable effect on Denmark's economic sentiment after 1999, differently from what happened in the case of the UK.
TypeArticle
DescriptionEm publicação
URIhttp://hdl.handle.net/1822/20055
Peer-Reviewedyes
AccessRestricted access (UMinho)
Appears in Collections:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

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