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| Author | : Michael J. Artis |
| Publisher | : |
| Total Pages | : 64 |
| Release | : 1995 |
| Genre | : Business cycles |
| ISBN | : |
| Author | : Michael J. Artis |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 1998 |
| Genre | : |
| ISBN | : |
This article proposes classical business cycle turning points for the G7 and a number of European countries based on industrial production. This enables us to examine the international nature of cyclical movements free from arbitrary assumptions about the trend. In particular, we show that cyclical asymmetry is common, with slopes during declines being generally larger in magnitude than during expansions. A binary measure of association for expansion and contraction regimes indicates a core group of European countries related to each other and apparently linked to the U.S. and Japan through Germany.
| Author | : Marcus Kappler |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 197 |
| Release | : 2012-07-30 |
| Genre | : Business & Economics |
| ISBN | : 3790828556 |
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
| Author | : Marcelle Chauvet |
| Publisher | : DIANE Publishing |
| Total Pages | : 12 |
| Release | : 2009-05 |
| Genre | : Business & Economics |
| ISBN | : 1437900453 |
The globalization of markets has sparked a worldwide interest in using economic indicators to analyze cyclical fluctuations. Governments and the private sector could benefit from internat. indicators that serve as a warning system to detect recessions in major economic partners and in industrialized countries as whole. This article constructs just such a warning system. The authors construct business cycle indicators for G7 countries and for an aggregate measure of output by 29 member countries of the OECD. The model yields probabilities of the current bus. cycle phase for each G7 country and for the aggregate OECD and G7 output measures and reveals a common cycle underlying the OECD countries that characterizes an internat. bus. cycle.
| Author | : Solomos Solomou |
| Publisher | : Manchester University Press |
| Total Pages | : 150 |
| Release | : 1998 |
| Genre | : Business cycles |
| ISBN | : 9780719041518 |
The ups and downs of booms and slumps, often referred to as business cycles, are features of all modern economies. This book considers business cycles over three epochs 1870-1913, 1919-1938 and the post-World War II period. It provides an analysis of the key macroeconomic questions relating to economic fluctuations. Why are the ups and down more volatile in some epochs than others? Why are some business cycle shocks more persistent in their effects? Is there an international business cycle? Can present business cycle features predict future patterns? What impact will institutional changes, such as EMU have on future fluctuations?
| Author | : Silvia Palasca |
| Publisher | : GRIN Verlag |
| Total Pages | : 15 |
| Release | : 2013-06-05 |
| Genre | : Business & Economics |
| ISBN | : 3656443033 |
Essay from the year 2013 in the subject Economics - Monetary theory and policy, Alexandru Ioan Cuza University of Iasi, language: English, abstract: The European Union sets the premises for the appearance of a new phenomenon in the global economic setting: the synchronization of the national business cycles. The aim of this article is to statistically prove the existence of a Euro are business cycle through the study of a classic indicator- the annual change of the GDP and also through the use of foreign trade indicators-the annual changes in exports in imports. Also, it is important, at the end, to choose the best of these indicators or a combination thereof to use as a benchmark for further studies. The empiric study is useful to classify the European countries in clusters according to synchronization, a first step in adopting common policies.
| Author | : Julien Garnier |
| Publisher | : |
| Total Pages | : |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
| Author | : Karol Szomolányi |
| Publisher | : |
| Total Pages | : 16 |
| Release | : 2018 |
| Genre | : |
| ISBN | : |
The European post-communist countries that have integrated into the European Union are emerging market economies. However, their short-run economic performance does not correspond to the observed business cycles of other global emerging markets. The business cycles of the studied countries are longer, and their recessions are more pronounced. Moreover, economic activity in the studied countries is relatively low and volatile, and the trade balance and government purchases have a relatively significant countercyclical character. These are the core conclusions from our business cycle study of the chosen European post-communist countries. In the study, we use both traditional and contemporary business cycle definitions. Using traditional definitions, we determine the peaks, troughs, expansions and contractions and quantify the durations and amplitudes of their expansions, recessions and business cycles. Using contemporary definitions, we measure cyclical properties by computing the first and second moments of the chosen macroeconomic cyclical components and growth rates. Differences in the business cycles and characteristics between European post-communist countries and other emerging countries are discussed with reference to the works of other authors.
| Author | : Philip A. Klein |
| Publisher | : Domestic Affairs Studies |
| Total Pages | : 84 |
| Release | : 1976 |
| Genre | : Business & Economics |
| ISBN | : |
Pamphlet on the nature and international transmission of business cycles - compares classical business cycles and economic growth cycles in the USA, Western Europe, Canada and Japan, and concludes that foreign economic fluctuation affects u.s. Economic growth at least as much as, if not more than the economic recession in the USA influences foreign economies. Graphs, references and statistical tables.
| Author | : Mr.Ayhan Kose |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2008-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1451870019 |
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
