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Estudio comparativo sobre la relación entre las fluctuaciones de los ciclos económicos de España y sus vecinos europeos en las últimas décadas, de acuerdo a los criterios de varios autores como Backus, Kehoe y Kydland entre otros.
"If we review the theoretical literature on monetary unions, we find that the crucial issues that determine their success are the degree of similarity of the countries' economic structures and the level of economic interdependence between the member countries. The present book seeks to explore those matters, taking into account the theoretical debate and drawing on a new, homogenous and broad data base in order to evaluate the present situation and the further prospects of the Spanish economy and its partners in the process of building the New Europe, namely: an economic and monetary union that is currently in the process of consolidation and of enlargement toward's Eastern Europe."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
Written in a straight forward and engaging manner, Spain: A Modern European Economy engages with research from a wide variety of disciplines, and will be of interest to anyone with a specific interest in modern Spain, or a wider interest in economic development within the frame work of the European Union. Perhaps more than any other European country Spain has undergone a remarkable transformation in the post-war period. To the surprise of many, it has succeeded in making the leap from a predominantly agricultural and politically repressed country to a modern European democracy with a diversified economy containing important manufacturing and service sectors. Yet despite the fact that at the beginning of the twenty-first century Spain is the world's eighth largest economy, old stereotypes that see the Iberian nation as an inflexible, unchanging society persist.
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
Understanding the beliefs, attitudes, and values that underpin commercial activities and help shape corporate behavior in the various countries of Europe may be more important for doing business there than understanding the language. This study examines the Spanish government, economy, law, finance, labor market, and other features that determine the business culture in Spain and distinguish it from other European countries. Annotation copyright by Book News, Inc., Portland, OR
We present the business cycles results of European Union Countries in terms of volatility, persistence and cross country correlation. The results are in line with business cycles stylized facts and show a high degree of cross country correlation between member countries, although the volatilities presented are quite heterogeneous, suggesting different impacts of shocks on economies. A detailed study of GDP business cycle shows that business cycles in Germany, France, Italy, Belgium, Holland, Portugal and Spain are coincident, but there is no evidence of that fact for Austria, Finland, Sweden, Denmark and specially for United Kingdom.