Paper #1258

Títol:

ClubMed? Cyclical fluctuations in the Mediterranean basin

Autors:

Fabio Canova i Matteo Ciccarelli

Data:

Gener 2011

Resum:

We investigate macroeconomic fluctuations in the Mediterranean basin, their similarities and convergence. A model with four indicators, roughly covering the West, the East and the Middle East and the North Africa portions of the Mediterranean, characterizes well the historical experience since the early 1980. Idiosyncratic causes still dominate domestic cyclical fluctuations in many countries. Convergence and divergence coexist are local and transitory. The cyclical outlook for the next few years is rosier for the East than for the West.

Paraules clau:

Bayesian Methods; Business cycles; Mediterranean basin; Developing and developed countries.

Codis JEL:

C11; C33; E32.

Àrea de Recerca:

Macroeconomia i Economia Internacional

Publicat a:

Journal of International Economics, 88, 162-175, 2012

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