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Bibliografie

Journal Article

Growth cycle synchronization of the Visegrad Four and the European Union

Hanus L., Vácha Lukáš

: Empirical Economics vol.58, 4 (2020), p. 1779-1795

: GA16-14151S, GA ČR, 366015, GAUK

: Growth cycles, Synchronization, Integration, Time–frequency, Wavelets, Co-movement

: 10.1007/s00181-018-1601-x

: http://library.utia.cas.cz/separaty/2019/E/vacha-0504389.pdf

: https://link.springer.com/article/10.1007/s00181-018-1601-x

(eng): In this paper, we map the growth cycle synchronization across the European Union, specifically focusing on the position of the Visegrad Four countries. We study the synchronization using frequency and time-frequency domain. To accommodate for dynamic relationships among the countries, we propose a wavelet cohesion measure with time-varying weights. Analyzing quarterly data from 1995 to 2017, we show an increasing co-movement of the Visegrad Four countries with the European Union after the countries have accessed the European Union. We show that participation in a currency union increases the co-movement of the country adopting the Euro. Furthermore, we find a high degree of synchronization at business cycle frequencies of the Visegrad Four and countries of the European monetary union.

: AH

: 50202

07.01.2019 - 08:39