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Business Cycle Desynchronisation: Amplitude and Beta vs. Co-movement

Author

Listed:
  • Ansgar Belke

    (University of Duisburg-Essen)

  • Clemens Domnick

    (University of Duisburg-Essen)

  • Daniel Gros

    (Centre for European Policy Studies (CEPS))

Abstract

A high degree of correlation among the business cycles of individual countries is usually seen as a key criterion for an optimum currency area. However, the elasticity with which countries react to the common cycle is equally important. A country with a non-unitary growth elasticity relative to the common area will experience cyclical divergences at the peak and trough of the common cycle. Despite being characterised by highly correlated business cycles, the euro area suffers from widely differing amplitudes.

Suggested Citation

  • Ansgar Belke & Clemens Domnick & Daniel Gros, 2017. "Business Cycle Desynchronisation: Amplitude and Beta vs. Co-movement," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 52(4), pages 238-241, July.
    • Handle: RePEc:spr:intere:v:52:y:2017:i:4:d:10.1007_s10272-017-0681-8
    DOI: 10.1007/s10272-017-0681-8
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    Cited by:

    1. Kunovac, Davor & Mandler, Martin & Scharnagl, Michael, 2018. "Financial cycles in euro area economies: A cross-country perspective," Discussion Papers 04/2018, Deutsche Bundesbank.

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