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http://hdl.handle.net/10071/9929
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Title: Business cycles, core and periphery in monetary unions: comparing Europe and North America
Authors: Ferreira-Lopes, A.
Pina, A. M.
Keywords: Business cycles
Canada
European union
Fuzzy clustering
Monetary unions
United States
Issue Date: 2011
Publisher: Springer Verlag
Abstract: Using different levels of regional aggregation, we compare Europe with the USA and Canada as regards business cycle synchronization and core-periphery patterns. A long annual sample (1950-2005) makes it possible to study how these aspects have evolved over time. Results support the economic viability of EMU. Average cyclical correlations among European countries have risen significantly, reaching levels close to those of North American regions. Applying fuzzy clustering to the analysis of core-periphery issues, we find European countries to actually outperform USA Census Regions: the core-periphery divide is milder, and peripheral status seems generally less protracted.
Description: WOS:000293967800002 (Nº de Acesso Web of Science)
Peer reviewed: Sim
URI: https://ciencia.iscte-iul.pt/public/pub/id/6152
http://hdl.handle.net/10071/9929
ISSN: 0923-7992
Publisher version: The definitive version is available at: http://dx.doi.org/10.1007/s11079-009-9133-9
Appears in Collections:BRU-RI - Artigo em revista científica internacional com arbitragem científica

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