Determinanty synchronizacji cykli koniunkturalnych w krajach Unii Europejskiej w latach 1990–2007

Krzysztof Beck

doi:10.18778/1429-3730.34.01

Authors

Krzysztof Beck Uczelnia Łazarskiego, Katedra Ekonomii

DOI:

https://doi.org/10.18778/1429-3730.34.01

Keywords:

the economy of the European Union, the economic cycle synchronization

Abstract

The aim of this article is employment of seemingly unrelated regressions method to analyze determinants of business cycles synchronization in European Union countries. Using systematic approach have proven that commonly acknowledged determinants of business cycles synchronization: trade intensity, structural similarities, compatibility of fiscal and monetary policy are significant and all have positive impact on business cycles synchronization. Additionally came about impact of convergence on business cycles synchronization, what have enforced correctness of Imbs and Wacziarg hypothesis about U-shaped relationship between GDP per capita and specialization. In that circumstances convergence leads through specialization to lower business cycles synchronization. Also structural similarities make distribution symmetrical distribution of shocks coming from outside European Union.

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