Euro area business cycles:

The role of global, euro area and country-specific shocks in business cycle dynamics of six euro area member countries is assessed with the aid of SVAR models. Output fluctuations are driven by global shocks to a large extent in the euro area, and no Europeanisation of business cycles due to, for ex...

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Bibliographische Detailangaben
1. Verfasser: Seymen, Atilim (VerfasserIn)
Format: Elektronisch Buchkapitel
Sprache:English
Veröffentlicht: Paris OECD Publishing 2012
Schlagworte:
Online-Zugang:DE-384
DE-473
DE-824
DE-29
DE-739
DE-355
DE-20
DE-1028
DE-1049
DE-521
DE-861
DE-898
DE-92
DE-91
DE-573
DE-19
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Zusammenfassung:The role of global, euro area and country-specific shocks in business cycle dynamics of six euro area member countries is assessed with the aid of SVAR models. Output fluctuations are driven by global shocks to a large extent in the euro area, and no Europeanisation of business cycles due to, for example the European Monetary Union, could be established. Business cycle heterogeneity is driven mainly by (asymmetric) country-specific shocks in the euro area and not by heterogeneous responses to common, particularly global, shocks. The cyclical disparity across the member economies is found to be small relative to the size of business cycles. JEL classification: E32, C32, F00 Keywords: European Monetary Union, international business cycles, common and country-specific shocks, structural vector autoregression
Beschreibung:1 Online-Ressource (31 Seiten) 21 x 28cm
DOI:10.1787/jbcma-2012-5k98xgf7dnwk

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