scholarly journals Business cycle synchronization and the Euro: A wavelet analysis

2011 ◽  
Vol 33 (3) ◽  
pp. 477-489 ◽  
Author(s):  
Luı´s Aguiar-Conraria ◽  
Maria Joana Soares
Keyword(s):  
Wavelet Analysis ◽  
Business Cycle ◽  
Business Cycle Synchronization

scholarly journals Business cycle synchronization across U.S. states

2016 ◽  
Vol 17 (1) ◽  
Author(s):  
Luís Aguiar-Conraria ◽  
Pedro Brinca ◽  
Haukur Viðar Guðjónsson ◽  
Maria Joana Soares
Keyword(s):  
Wavelet Analysis ◽  
Business Cycles ◽  
Business Cycle ◽  
The State ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Business Cycle Synchronization ◽  
Industry Specialization ◽  
State Cycle ◽  
Aggregate Economy

AbstractWe use wavelet analysis to conclude that individual U.S. states’ business cycles are very well synchronized. We also find evidence of a strong and significant correlation between business cycle dissimilitudes and the distance between each pair of states, consistent to gravity type mechanisms where distance affects trade. Trade, in turn, increases business cycle synchronization, while a higher degree of industry specialization is associated with a higher dissimilitude of the state cycle with the aggregate economy. Finally, there is evidence that business cycle dissimilitudes have been decreasing with time, consistent with the previous findings coupled with the idea that information and communications technology make distances smaller.

scholarly journals Synchronization of business cycles in Poland and the euro zone – the wavelet domain approach

Equilibrium ◽  
2009 ◽  
Vol 3 (2) ◽  
pp. 9-25
Author(s):  
Joanna Bruzda
Keyword(s):  
Wavelet Analysis ◽  
Business Cycles ◽  
Business Cycle ◽  
Business Cycle Synchronization ◽  
Euro Zone ◽  
Frequency Domains ◽  
Trading Partners ◽  
Time Varying Frequency ◽  
Frequency Components ◽  
One Year

In the paper time-scale (wavelet) analysis is suggested as a tool for examining business cycle synchronization. Wavelet analysis enables to examine stochastic processes simultaneously in the time and frequency domains. Due to this the approach makes it possible to investigate time varying frequency components of economic processes. Among such components one can distinguish cycles of length over one year up to twelve years, which are known as business cycles (see Burns and Mitchell, 1946). In the paper this approach is illustrated with an examination of business cycle synchronization between Poland and its main trading partners in the euro zone: Germany, France, Italy and the Netherlands. The empirical analysis confirms the stylized facts on the Polish business cycle: its length, similarity with the German cycle and the lead-lag relations with national cycles in the euro zone. Besides, verification of the OCA endogenity hypothesis has been undertaken, but the results obtained are ambiguous.

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