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文章基本信息

  • 标题:Do european business cycles look like one
  • 本地全文:下载
  • 作者:Máximo Camacho ; Gabriel Pérez-Quirós y Lorena Saiz
  • 期刊名称:Documentos de Trabajo / Banco de España
  • 印刷版ISSN:0213-2710
  • 电子版ISSN:1579-8666
  • 出版年度:2005
  • 卷号:1
  • 出版社:Banco de España
  • 摘要:

    This paper analyzes if each European country presents business cycles that are similar enough to validate what some authors call the European cycle. Contrary to the majority of papers on business cycles, we concentrate on the appearance of the cycle, not on the synchronization. We provide a robust methodology for dating and characterizing business cycles and their phases and adopt the model-based cluster analysis to test the existence of an unique cluster (a common cycle) against more than one. We find evidence against a common cycle. Finally, we find no clear relation between similarities in business cycle appearance and synchronization across countries.

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