СИНХРОНИЗАЦИЯ НА БИЗНЕС ЦИКЛИТЕ В СТРАНИТЕ-ЧЛЕНКИ НА ЕВРОПЕЙСКИЯ СЪЮЗ: ИЗСЛЕДВАНЕ НА ИКОНОМИЧЕСКАТА КОНВЕРГЕНЦИЯ В РАМКИТЕ НА ЕС
BUSINESS CYCLE SYNCHRONIZATION OF THE EUROPEAN UNION MEMBER-STATES: A STUDY OF THE ECONOMIC CONVERGENCE WITHIN THE EU

Summary/Abstract: The aim of this paper is to investigate the level of business cycle synchronization of the EU member states. Three macroeconomic indicators within EU members are studied – GDP, unemployment and inflation. The methodology of the study is based on two parallel econometric techniques – Baxter-King and Hodrick-Prescott filters. Different levels of synchronization are distinguished within the estimated indicators – high s synchronization of GDP, moderate of unemployment and low synchronization of inflation. Different levels of synchronization are identified between the old and new members of the EU.

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