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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Format: | Elektronisch Artikel |
Sprache: | English |
Veröffentlicht: |
Paris
OECD Publishing
2012
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Online-Zugang: | Volltext |
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 p.) 21 x 28cm. |
DOI: | 10.1787/jbcma-2012-5k98xgf7dnwk |
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520 | |a 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 | ||
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spelling | Seymen, Atilim VerfasserIn aut Euro area business cycles Atilim, Seymen Paris OECD Publishing 2012 1 Online-Ressource (31 p.) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 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 Economics Enthalten in OECD Journal: Journal of Business Cycle Measurement and Analysis Vol. 2012, no. 1, p. 1-31 volume:2012 year:2012 number:1 pages:1-31 FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/jbcma-2012-5k98xgf7dnwk Volltext |
spellingShingle | Seymen, Atilim Euro area business cycles Economics |
title | Euro area business cycles |
title_auth | Euro area business cycles |
title_exact_search | Euro area business cycles |
title_full | Euro area business cycles Atilim, Seymen |
title_fullStr | Euro area business cycles Atilim, Seymen |
title_full_unstemmed | Euro area business cycles Atilim, Seymen |
title_short | Euro area business cycles |
title_sort | euro area business cycles |
topic | Economics |
topic_facet | Economics |
url | https://doi.org/10.1787/jbcma-2012-5k98xgf7dnwk |
work_keys_str_mv | AT seymenatilim euroareabusinesscycles |