This paper analyses sectoral business cycle synchronization in an enlarged European Union using annual data for the period 1980-2005. In particular, we try to identify which sector for each country is driving the aggregate output business cycle synchronization. Overall, the sectors that provide the most relevant contribution are Industry, Building and Construction, and Agriculture, Fishery and Forestry. In contrast, the Services sector, the largest one in terms of valued added share, shows a relative low business cycle synchronization and volatility, contributing only marginally to the aggregate output business cycle synchronization.
Furceri, D., Afonso, A. (2009). Sectoral Business Cycle Synchronization in the European Union. ECONOMICS BULLETIN, 2009, 2996-3014.
Sectoral Business Cycle Synchronization in the European Union
FURCERI, Davide;
2009-01-01
Abstract
This paper analyses sectoral business cycle synchronization in an enlarged European Union using annual data for the period 1980-2005. In particular, we try to identify which sector for each country is driving the aggregate output business cycle synchronization. Overall, the sectors that provide the most relevant contribution are Industry, Building and Construction, and Agriculture, Fishery and Forestry. In contrast, the Services sector, the largest one in terms of valued added share, shows a relative low business cycle synchronization and volatility, contributing only marginally to the aggregate output business cycle synchronization.
| File | Dimensione | Formato | |
|---|---|---|---|
|
EB-09-V29-I4-P289.pdf
Solo gestori archvio
Descrizione: Articolo principale
Tipologia:
Versione Editoriale
Dimensione
220.86 kB
Formato
Adobe PDF
|
220.86 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
