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Synchronisation of national business cycles in Europe?

Synchronisation of national business cycles in Europe?

This paper explores the extent to which co-movement in business cycles in European countries has changed over the last fifty years. Several complementary methods are applied to check the robustness of the findings. The most important result is that the correlation between the national business cycles was already quite high during the fifties and early sixties of the last century, declined in the late sixties to in some cases even negative values and reached a peak after the first oil price shock. Since the eighties we observe a stable or even steadily increasing co-movement of the national business cycles.

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Release date: 10/09/2004

Additional information

Product Code: KS-AN-03-072
ISBN: 92-894-6865-3
ISSN: 1725-4825
Theme: General and regional statistics
Collection: Statistical working papers