All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC

Maria Jesús Delgado-Rodriguez and Sonia De lucas-Santos
''Testing cyclical convergence with the factor model in the Euro Area''
( 2013, Vol. 33 No.3 )
In this paper we use the factor model and propose a parametric approach to investigate the process of cyclical convergence in the Euro Area (EA) over the period 1989-2011. Our results show that despite the fact that EA countries share a common business cycle, further convergence after the run-up period to the euro is found not to have been reached.
Keywords: Business cycle, Factor loadings, Structural Stability, Cyclical convergence
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Manuscript Received : Aug 16 2013 Manuscript Accepted : Sep 03 2013

  This abstract has been downloaded 1644 times                The Full PDF of this paper has been downloaded 154645 times