Synchronization of the Economic Sentiment Cycles in the Euro Area: a time-frequency analysis

• Type: Academic Work
• Date: 2011

Authors

Luis Aguiar-Conraria (Author) Other; Manuel Mota Freitas Martins (Author) FEP; Maria Joana Soares (Author) Other

Scientific classification

FOS: Social sciences > Economics and Business

CORDIS: Social sciences > Economics

Other information

Abstract (EN): We use wavelet tools and Economic Sentiment Indicators to study the synchronization of economic cycles in the Euro Area. We assess the time-varying and frequency-varying pattern of business cycles synchronization in the Area and test the impact of the creation of the European Monetary Union in 1999. Among several results, we find that (a) the EMU is associated with a significant increase in synchronization of economic sentiment in the Euro Area; (b) the hard-peg of its currency to the Euro led to a comparable synchronization of Denmark's economic sentiment after 1999, differently from what happened in the case of the UK.

Language: English

Type (Professor's evaluation): Scientific

Notes: Cef.up Working Paper nº. 2011-05, October 2011 https://www.fep.up.pt/investigacao/cef.up/WP/2011/2011_05_abstract.pdf