Paper #1258

Título:

ClubMed? Cyclical fluctuations in the Mediterranean basin

Autores:

Fabio Canova y Matteo Ciccarelli

Data:

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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