Paper #1258
- Título:
- ClubMed? Cyclical fluctuations in the Mediterranean basin
- Autores:
- Fabio Canova y Matteo Ciccarelli
- Fecha:
- Enero 2011
- Resumen:
- 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.
- Palabras clave:
- Bayesian Methods; Business cycles; Mediterranean basin; Developing and developed countries.
- Códigos JEL:
- C11; C33; E32.
- Área de investigación:
- Macroeconomía y Economía Internacional
- Publicado en:
- Journal of International Economics, 88, 162-175, 2012
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