Business cycle synchronization in Europe: Evidence from the Scandinavian Currency Union
Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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Business cycle synchronization in Europe : Evidence from the Scandinavian Currency Union. / Bergman, Ulf Michael; Jonung, Lars.
I: Manchester School, Bind 79, Nr. 2, 2011, s. 268-292.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Business cycle synchronization in Europe
T2 - Evidence from the Scandinavian Currency Union
AU - Bergman, Ulf Michael
AU - Jonung, Lars
PY - 2011
Y1 - 2011
N2 - In this paper we study business cycle synchronization in the three Scandinavian countries Denmark, Norway and Sweden prior to, during and after the Scandinavian Currency Union 1873–1913. We find that the degree of synchronization tended to increase during the currency union, thus supporting earlier empirical evidence. Estimates of factor models suggest that common Scandinavian shocks are important for these three countries. At the same time we find evidence suggesting that the importance of these shocks does not depend on the monetary regime.
AB - In this paper we study business cycle synchronization in the three Scandinavian countries Denmark, Norway and Sweden prior to, during and after the Scandinavian Currency Union 1873–1913. We find that the degree of synchronization tended to increase during the currency union, thus supporting earlier empirical evidence. Estimates of factor models suggest that common Scandinavian shocks are important for these three countries. At the same time we find evidence suggesting that the importance of these shocks does not depend on the monetary regime.
U2 - 10.1111/j.1467-9957.2010.02237.x
DO - 10.1111/j.1467-9957.2010.02237.x
M3 - Journal article
VL - 79
SP - 268
EP - 292
JO - Manchester School
JF - Manchester School
SN - 1463-6786
IS - 2
ER -
ID: 33664200