Arbeitspapier
A new approach to analyzing convergence and synchronicity in growth and business cycles: Cross recurrence plots and quantification analysis
Convergence and synchronisation of business and growth cycles are important issues in the efficient formulation of euro area economic policies, and in particular European Central Bank (ECB) monetary policy. Although several studies in the economics literature address the issue of synchronicity of growth within the euro area, this is the first to address the issue using cross recurrence analysis. The main findings are that member state growth rates had largely converged before the introduction of the euro, but there is a wide degree of different synchronisation behaviours which appear to be non-linear in nature. Many of the euro area member states display what is termed here intermittency in synchronization, although this is not consistent across countries or members of the euro area. These differences in synchronization behaviors could introduce further challenges in managing the country-specific effects of the common monetary policy in the euro area.
- ISBN
-
978-952-462-617-0
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Finland Research Discussion Papers ; No. 16/2010
- Klassifikation
-
Wirtschaft
Miscellaneous Mathematical Tools
Business Fluctuations; Cycles
Economic Integration
- Thema
-
Euro area
business cycles
growth cycles
recurrence plots
nonstationarity
complex systems
surrogate analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Crowley, Patrick M.
Schultz, Aaron
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Crowley, Patrick M.
- Schultz, Aaron
- Bank of Finland
Entstanden
- 2010
Ähnliche Objekte (12)
Rational exuberance booms and asymmetric business cycles
Information and credit cycles: Causes and consequences of financial instability
Expectational business cycles
One money, several cycles? Evaluation of European business cycles using model-based cluster analysis
On optimal emission control: Taxes, substitution and business cycles.
Long cycles in growth: explorations using new frequency domain techniques with US data
Interest rates and business cycles in emerging economies: the role of financial frictions
Owner-occupied housing as an investment, regional house price cycles and residential sorting
Technological transformation and retail banking competition: Implications and measurement
Income inequality and social preferences for redistribution and compensation differentials
Large value payment systems: principles and present and future developments
Payment and financial innovation, reserve demand and implementation of monetary policy
Rational exuberance booms and asymmetric business cycles
Information and credit cycles: Causes and consequences of financial instability
Expectational business cycles
One money, several cycles? Evaluation of European business cycles using model-based cluster analysis
On optimal emission control: Taxes, substitution and business cycles.
Long cycles in growth: explorations using new frequency domain techniques with US data
Interest rates and business cycles in emerging economies: the role of financial frictions
Owner-occupied housing as an investment, regional house price cycles and residential sorting
Technological transformation and retail banking competition: Implications and measurement
Income inequality and social preferences for redistribution and compensation differentials
Large value payment systems: principles and present and future developments
Payment and financial innovation, reserve demand and implementation of monetary policy
Rational exuberance booms and asymmetric business cycles
Information and credit cycles: Causes and consequences of financial instability
Expectational business cycles
One money, several cycles? Evaluation of European business cycles using model-based cluster analysis
On optimal emission control: Taxes, substitution and business cycles.
Long cycles in growth: explorations using new frequency domain techniques with US data
Interest rates and business cycles in emerging economies: the role of financial frictions
Owner-occupied housing as an investment, regional house price cycles and residential sorting
Technological transformation and retail banking competition: Implications and measurement
Income inequality and social preferences for redistribution and compensation differentials
Large value payment systems: principles and present and future developments