Synchronization and diversity in business cycles: a network analysis of the European Union

Autores
Matesanz Gómez, David; Ferrari, Hernan Javier; Torgler, Benno; Ortega, Guillermo José
Año de publicación
2016
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
In this article, we use a correlation matrix and its internal networks to analyse business cycle synchronization across Europe since 2000. This methodology allows us to summarize individual country interactions and co-movements while also capturing the existing heterogeneity of connectivity within the European economic system. Our results indicate that synchronization of the euro zone countries remained stable from 1999 until the current financial crisis, after which co-movements increased sharply and synchronization rose to the highest in the time sample. By endogenously identifying clusters of countries with close connections in their business cycle, we also refute the commonly accepted notion of identifiable core and peripheral euro zone countries.
Fil: Matesanz Gómez, David. Universidad de Oviedo; España
Fil: Ferrari, Hernan Javier. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Universidad Austral. Facultad de Ingeniería; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Fil: Torgler, Benno. Queensland University of Technology; Australia. Center for Research in Economics, Management and the Arts; Suiza
Fil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Materia
Businesscycle Synchronization
Complex Systems
Network Topology
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/46685
Acceder
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spelling Synchronization and diversity in business cycles: a network analysis of the European UnionMatesanz Gómez, DavidFerrari, Hernan JavierTorgler, BennoOrtega, Guillermo JoséBusinesscycle SynchronizationComplex SystemsNetwork Topologyhttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5In this article, we use a correlation matrix and its internal networks to analyse business cycle synchronization across Europe since 2000. This methodology allows us to summarize individual country interactions and co-movements while also capturing the existing heterogeneity of connectivity within the European economic system. Our results indicate that synchronization of the euro zone countries remained stable from 1999 until the current financial crisis, after which co-movements increased sharply and synchronization rose to the highest in the time sample. By endogenously identifying clusters of countries with close connections in their business cycle, we also refute the commonly accepted notion of identifiable core and peripheral euro zone countries.Fil: Matesanz Gómez, David. Universidad de Oviedo; EspañaFil: Ferrari, Hernan Javier. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Universidad Austral. Facultad de Ingeniería; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Torgler, Benno. Queensland University of Technology; Australia. Center for Research in Economics, Management and the Arts; SuizaFil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaTaylor & Francis2016-10info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/46685Matesanz Gómez, David; Ferrari, Hernan Javier; Torgler, Benno; Ortega, Guillermo José; Synchronization and diversity in business cycles: a network analysis of the European Union; Taylor & Francis; Applied Economics; 49; 10; 10-2016; 972-9860003-6846CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1080/00036846.2016.1210765info:eu-repo/semantics/altIdentifier/url/https://www.tandfonline.com/doi/abs/10.1080/00036846.2016.1210765info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-10-15T14:27:04Zoai:ri.conicet.gov.ar:11336/46685instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-10-15 14:27:04.675CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Synchronization and diversity in business cycles: a network analysis of the European Union
title Synchronization and diversity in business cycles: a network analysis of the European Union
spellingShingle Synchronization and diversity in business cycles: a network analysis of the European Union
Matesanz Gómez, David
Businesscycle Synchronization
Complex Systems
Network Topology
title_short Synchronization and diversity in business cycles: a network analysis of the European Union
title_full Synchronization and diversity in business cycles: a network analysis of the European Union
title_fullStr Synchronization and diversity in business cycles: a network analysis of the European Union
title_full_unstemmed Synchronization and diversity in business cycles: a network analysis of the European Union
title_sort Synchronization and diversity in business cycles: a network analysis of the European Union
dc.creator.none.fl_str_mv Matesanz Gómez, David
Ferrari, Hernan Javier
Torgler, Benno
Ortega, Guillermo José
author Matesanz Gómez, David
author_facet Matesanz Gómez, David
Ferrari, Hernan Javier
Torgler, Benno
Ortega, Guillermo José
author_role author
author2 Ferrari, Hernan Javier
Torgler, Benno
Ortega, Guillermo José
author2_role author
author
author
dc.subject.none.fl_str_mv Businesscycle Synchronization
Complex Systems
Network Topology
topic Businesscycle Synchronization
Complex Systems
Network Topology
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv In this article, we use a correlation matrix and its internal networks to analyse business cycle synchronization across Europe since 2000. This methodology allows us to summarize individual country interactions and co-movements while also capturing the existing heterogeneity of connectivity within the European economic system. Our results indicate that synchronization of the euro zone countries remained stable from 1999 until the current financial crisis, after which co-movements increased sharply and synchronization rose to the highest in the time sample. By endogenously identifying clusters of countries with close connections in their business cycle, we also refute the commonly accepted notion of identifiable core and peripheral euro zone countries.
Fil: Matesanz Gómez, David. Universidad de Oviedo; España
Fil: Ferrari, Hernan Javier. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Universidad Austral. Facultad de Ingeniería; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Fil: Torgler, Benno. Queensland University of Technology; Australia. Center for Research in Economics, Management and the Arts; Suiza
Fil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
description In this article, we use a correlation matrix and its internal networks to analyse business cycle synchronization across Europe since 2000. This methodology allows us to summarize individual country interactions and co-movements while also capturing the existing heterogeneity of connectivity within the European economic system. Our results indicate that synchronization of the euro zone countries remained stable from 1999 until the current financial crisis, after which co-movements increased sharply and synchronization rose to the highest in the time sample. By endogenously identifying clusters of countries with close connections in their business cycle, we also refute the commonly accepted notion of identifiable core and peripheral euro zone countries.
publishDate 2016
dc.date.none.fl_str_mv 2016-10
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/46685
Matesanz Gómez, David; Ferrari, Hernan Javier; Torgler, Benno; Ortega, Guillermo José; Synchronization and diversity in business cycles: a network analysis of the European Union; Taylor & Francis; Applied Economics; 49; 10; 10-2016; 972-986
0003-6846
CONICET Digital
CONICET
url http://hdl.handle.net/11336/46685
identifier_str_mv Matesanz Gómez, David; Ferrari, Hernan Javier; Torgler, Benno; Ortega, Guillermo José; Synchronization and diversity in business cycles: a network analysis of the European Union; Taylor & Francis; Applied Economics; 49; 10; 10-2016; 972-986
0003-6846
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.1080/00036846.2016.1210765
info:eu-repo/semantics/altIdentifier/url/https://www.tandfonline.com/doi/abs/10.1080/00036846.2016.1210765
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Taylor & Francis
publisher.none.fl_str_mv Taylor & Francis
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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score 13.22299

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