Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/33898

TitleOptimum currency area and business cycle synchronization across U.S. States
Author(s)Conraria, Luís Aguiar
Brinca, Pedro
Haukur, Viðar Guðjónsson
Soares, M. J.
KeywordsOptimum currency areas
Business cycle synchronization
Continuous wavelet transform
Trade
Issue dateFeb-2015
PublisherUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
Abstract(s)We use wavelet analysis to investigate to what extent individual U.S. states' business cycles are synchronized. The results show that the U.S. states are remarkably well synchronized compared to the previous findings w.r.t. the Euro Area. There is also a strong and significant correlation between business cycle dissimilitudes and the distance between each pair of states, consistent to gravity type mechanisms where distance affects trade. Trade, in turn, increases business cycle synchronization. Finally we show that a higher degree of industry specialization is associated with a higher dissimilitude of the state cycle with the aggregate economy
TypeWorking paper
URIhttp://hdl.handle.net/1822/33898
Publisher versionhttp://www.nipe.eeg.uminho.pt/Uploads/WP_2015/NIPE_WP_01_2015.pdf
Peer-Reviewedno
AccessOpen access
Appears in Collections:DMA - Outros trabalhos de investigação
NIPE - Documentos de Trabalho

Files in This Item:
File Description SizeFormat 
NIPE_WP_01_2015.pdfNIPE WP 01/20151,01 MBAdobe PDFView/Open

Partilhe no FacebookPartilhe no TwitterPartilhe no DeliciousPartilhe no LinkedInPartilhe no DiggAdicionar ao Google BookmarksPartilhe no MySpacePartilhe no Orkut
Exporte no formato BibTex mendeley Exporte no formato Endnote Adicione ao seu ORCID