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Title:

Business cycle synchronization in the EU economies after the recession of 2007-2009

Group publication title:

Argumenta Oeconomica

Creator:

Osińska, Magdalena ; Kufel, Tadeusz ; Błażejowski, Marcin ; Kufel, Paweł

Subject and Keywords:

business cycle ; synchronization ; cross-spectrum ; moving window ; European Union

Description:

Argumenta Oeconomica, 2016, Nr 2 (37), s. 5-30

Abstrakt:

The aim of the study is to evaluate business cycle synchronization in the EU economies including the determination of the impact of the global financial and economic recession of 2007-2009. In general, the economic recession can be understood as one of the phases of the global business cycle because all countries had suffered somehow from this enormous collapse. However, the depth and length of this phase was different across the countries due to different approaches to the monetary and fiscal policy that was applied to stop it and to start economic recovery. That is why some substantial changes could arise leading to the economic divergence of the economies that might affect not only the stability of particular economies but also periods of their recovery, which in consequence, might spoil the business cycle synchronization that had been observed before the recession. This is particularly important for the future of such economic bodies like the European Union and the Eurozone that experienced both the advantages and the disadvantages of common policy and currency.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2016

Resource Type:

artykuł

Format:

application/pdf

Resource Identifier:

doi:10.15611/aoe.2016.2.01

Language:

eng

Relation:

Argumenta Oeconomica

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu