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Business cycles synchronization in the European Union: truth or challenge?

Author

Listed:
  • Cristina-Flavia TATOMIR

    (The Bucharest University of Economic Studies)

  • Oana Cristina POPOVICI

    (The Bucharest University of Economic Studies)

Abstract

This paper provides an updated picture of the degree of business cycles synchronization in the European Union, analyzing its evolution during 1999-2011. We use the Hodrick-Prescott filter to capture the relevant trends in the business cycles and the Pearson correlation coefficient to measure the degree of synchronization. The results obtained show that the highest level of business cycle synchronization with the Euro Area is reached by Finland and France, while Poland is by far the country with the most divergent business cycle.

Suggested Citation

  • Cristina-Flavia TATOMIR & Oana Cristina POPOVICI, 2013. "Business cycles synchronization in the European Union: truth or challenge?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(7(584)), pages 33-42, July.
    • Handle: RePEc:agr:journl:v:xx:y:2013:i:7(584):p:33-42
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    Cited by:

    1. Łukasz Markowski & Aleksandra Ostrowska, 2024. "Synchronizacja cyklu gospodarczego i finansowego w krajach Unii Europejskiej," Ekonomista, Polskie Towarzystwo Ekonomiczne, issue 2, pages 178-208.

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