Regional Business Cycles Across Europe

Clustering regional business cycles

“…From these individual datings, it is usual to analyze business cycle features, to detect patterns of synchronization or to build clusters of countries. 2 Analyzing the regional dimension introduces new challenges, especially for 1 See, e.g., Ramajo et al (2008) for the European regions and Park and Hewings (2012) for the US states.…”

“…Studying the regional dimension of business cycles is important to uncover the heterogeneity hidden in country analyses. 1 By dealing with a larger information set, new insights can be obtained, useful, for instance, when implementing economic policies. Nevertheless, the literature analyzing regional business cycles is relatively scant.…”

Cyclicity In Russian Regional Economy Sectors: Models And Results

“…A significant number of aticles are devoted to regional cycles in Europe, where regions are understood as individual countries belonging to the European Union or the Eurozone, and also the US States and Chinese provinces. Recent studies include (Bandrés, Rivas, & Gómez-Loscos, 2017;Koopman, Lit, & Lucas, 2016;Ahlborn & Wortmann, 2018;Gong & Kim, 2018). Researchers discovered an internal synchronicity between regional cycles, as well as a link between regional and global cycles.…”

Business cycle patterns in European regions

“…For instance, many papers have analyzed the business cycles of European Monetary Union (EMU) countries and the synchronization among them. 2 However, it has to be borne in mind that analyses at the country level may well hide very different regional cyclical developments. Studying the regional dimension of business cycles is therefore important to uncover the heterogeneity hidden in country analyses, as, e.g., Ramajo et al (2008) show for the European regions, Park and Hewings (2012) for the US states, Hayashida and Hewings (2009) for Japan and Gadea et al (2012) for Spain.…”