Macroeconomic Imbalances and Business Cycle Convergence in the EU
Type Research Project
- Oesterreichische Nationalbank (Jubiläumsfonds) http://www.oenb.at/de/ueber_die_oenb/foerderung/jubilaeumsfondsneu/jubilaeumsfonds.jsp
Duration May 1, 2014 - Nov. 30, 2015
- Department of Economics (Badinger) AE (Details)
Tags
Press 'enter' for creating the tag- De Luigi, Clara (Former researcher)
- Lukmanova, Elizaveta (Former researcher)
- Reininger, Christian (Former researcher)
- Tondl, Gabriele (Details) Project Head
Abstract (English)
This project investigates empirically if macroeconomic imbalances as listed by the European Commission´s scoreboard indicators have contributed to periods of diverging business cycles. Hereby, it focuses on the desynchronizing effects of imbalances in the current account, excessive public and private debt and country-specific booms/recessions. In addition, the effects of a common monetary policy under decoupled economic activity are considered. A strong influence in the results would support the idea of stringent surveillance and strengthened economic policy coordination in the Eurozone since co-movement of cycles is a condition for a well-functioning monetary union.
Publications
Journal article
| 2017 | Lukmanova, Elizaveta, Tondl, Gabriele. 2017. Macroeconomic imbalances and business cycle synchronization. Why common economic governance is imperative for the Eurozone. Economic Modelling 62, 130-144. | (Details) |
Classification
- 5300 Economics (Details)
Expertise
- business cycles