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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2137

Title: Business cycle synchronization and insurance mechanisms in the EU
Authors: Afonso, António
Furceri, Davide
Keywords: EU
Optimum Currency Areas
Business Cycle Synchronization
Insurance Mechanisms
Issue Date: Dec-2007
Publisher: European Central Bank
Citation: Afonso, António e Davide Furceri . 2007. "Business cycle synchronization and insurance mechanisms in the EU". European Central Bank working paper series nº 844-2007
Series/Report no.: European Central Bank working paper series;nº 844-2007
Abstract: In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have well synchronized business cycles, for some of the other countries, business cycles are not yet well synchronized with the euro area's business cycle, and risk-sharing mechanisms may not provide enough insurance against shocks.
URI: http://hdl.handle.net/10400.5/2137
ISSN: 1725-2806
Publisher version: http://www.ecb.int/pub/pdf/scpwps/ecbwp844.pdf
Appears in Collections:DE - Documentos de trabalho / Working Papers

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