EnglishThis paper investigates the dynamic effects of common macroeconomic shocks in shaping business cycle fluctuations in a group of Euro-area countries. In particular, by using the structural (near)VAR methodology, we investigate the effect of area-wide shocks, with particular attention to monetary policy shocks. The main conclusion is that: (a) contractionary monetary policy shocks cause similar recessionary effects in all countries; (b) as far as business cycle fluctuations are concerned, there is a separation into two distinct groups of countries, with a first group including the biggest European economies in which business cycle fluctuations are mainly explained by common, area-wide shocks and a second one, including Greece, Ireland and Portugal, in which the national shocks play, instead, a much greater role.
Common Macroeconomic Shocks and Business Cycle Fluctuations in Euro Area Countries / Cavallo, Antonella; Ribba, Antonio. - In: INTERNATIONAL REVIEW OF ECONOMICS & FINANCE. - ISSN 1059-0560. - STAMPA. - 38:July(2015), pp. 377-392. [10.1016/j.iref.2015.03.006]
| Data di pubblicazione: | 2015 | |
| Data di prima pubblicazione: | lug-2015 | |
| Titolo: | Common Macroeconomic Shocks and Business Cycle Fluctuations in Euro Area Countries | |
| Autore/i: | Cavallo, Antonella; Ribba, Antonio | |
| Autore/i UNIMORE: | ||
| Digital Object Identifier (DOI): | http://dx.doi.org/10.1016/j.iref.2015.03.006 | |
| Rivista: | ||
| Volume: | 38 | |
| Fascicolo: | July | |
| Pagina iniziale: | 377 | |
| Pagina finale: | 392 | |
| Codice identificativo ISI: | WOS:000356126600026 | |
| Codice identificativo Scopus: | 2-s2.0-84937764533 | |
| Citazione: | Common Macroeconomic Shocks and Business Cycle Fluctuations in Euro Area Countries / Cavallo, Antonella; Ribba, Antonio. - In: INTERNATIONAL REVIEW OF ECONOMICS & FINANCE. - ISSN 1059-0560. - STAMPA. - 38:July(2015), pp. 377-392. [10.1016/j.iref.2015.03.006] | |
| Tipologia | Articolo su rivista |
File in questo prodotto:
| File | Descrizione | Tipologia | |
|---|---|---|---|
| Cavallo_Ribba_IREF_february-04-2015.pdf | Pre-print dell'autore (bozza pre referaggio) | Open Access Visualizza/Apri |
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