Do institutions and culture matter for business cycles?
Open economies review, 2014, Vol. 25, No. 1, pp. 93-122
ALTUG, Sumru G., CANOVA, Fabio, Do institutions and culture matter for business cycles?, Open economies review, 2014, Vol. 25, No. 1, pp. 93-122 - https://hdl.handle.net/1814/33901
Retrieved from Cadmus, EUI Research Repository
We examine the relationship between cyclical fluctuations and macroeconomic, institutional, and cultural indicators for 46 countries from Europe and the Mediterranean basin. In the Mediterranean cycles are different: the duration of expansions is shorter; the amplitude of recessions is larger; and cyclical synchronization is smaller than elsewhere. Differences in cultural indicators have strong and significant associations with differences in the persistence and volatility of cyclical fluctuations and their synchronization.
Cadmus permanent link: https://hdl.handle.net/1814/33901
Full-text via DOI: 10.1007/s11079-013-9298-0
ISSN: 0923-7992; 1573-708X
Keyword(s): Business cycles Institutions and culture Mediterranean countries Synchronization Labor-market institutions Economic-development Growth Comovement Countries Beliefs Europe
Initial version: http://hdl.handle.net/1814/29200
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