Convergence of the Economic Sentiment Cycles in the Eurozone: A Time-Frequency Analysis

• Type: Article in International Scientific Journal
• Date: 2013

Authors

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

Journal

Title: JCMS-Journal of Common Market Studies

Vol. 51 No. 3

Pages: 377-398

ISSN: 0021-9886

Publisher: John Wiley & Sons

Indexing

ISI Web of Knowledge - 19 Citations

ISI Web of Science

Scopus - 20 Citations

Econlit

Scientific classification

FOS: Social sciences > Economics and Business

CORDIS: Social sciences > Economics

Other information

Authenticus ID: P-005-1EH

DOI: 10.1111/j.1468-5965.2012.02315.x

Abstract (EN): In this article, wavelet tools and economic sentiment indicators are used to study the similarity and synchronization of economic cycles in the eurozone. The time-varying and frequency-varying patterns of business cycles synchronization are assessed and the impact of the creation of the European monetary union (EMU) in 1999 is tested. Among several results, it is found that: the EMU is associated with a significant increase in the similarity and synchronization of the economic sentiment in the eurozone; and the hard-peg of its currency to the euro led to a comparable effect on Denmark's economic sentiment after 1999, different from what happened in the United Kingdom.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 22