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Publication:
Do institutions and culture matter for business cycles?

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Canova, Fabio

Date

2014

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Journal Article

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Abstract

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.

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Springer

Subject

Economics , Mediterranean economies , Comparative macroeconomics , Economic convergence , Macroeconomic co-movement

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Open Economies Review

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DOI

10.1007/s11079-013-9298-0

URI

https://doi.org/10.1007/s11079-013-9298-0
 https://hdl.handle.net/20.500.14288/7499

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