Measuring business cycle comovements in Europe: Evidence from a dynamic factor model with time-varying parameters |
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Authors: | Jim Lee |
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Institution: | Texas A&M University, Corpus Christi, United States |
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Abstract: | Estimation results from a dynamic factor model confirm an increase in output synchronization across European countries during the run-up to the inception of EMU, but EMU by itself has not continued to foster the emergence of a common business cycle. |
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Keywords: | C13 E3 |
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