Do Institutions and Culture Matter for Business Cycles?

被引：0
作者：
Sumru Altug
Fabio Canova
机构：
[1] Koç University and CEPR,
[2] EUI and CEPR,undefined
来源：
Open Economies Review | 2014年 / 25卷
关键词：
Business cycles; Institutions and culture; Mediterranean countries; Synchronization; C32; E32;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
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.
引用
收藏
页码：93 / 122
页数：29
相关论文
共 71 条
  • [1] Acemoglu D(2001)The Colonial Origins of Comparative Development: An Empirical Investigation Am Econ Rev 91 1369-1401
  • [2] Johnson S(2007)Emerging Market Business Cycles: The Cycle is the Trend J Polit Econ 115 69-102
  • [3] Robinson J(2010)The Power of the Family J Econ Growth 15 93-125
  • [4] Aguiar M(1993)Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence J Money Credit Bank 25 151-162
  • [5] Gopinath G(2012)Institutions and Business Cycles Int Financ 15 347-366
  • [6] Alesina A(2005)Determinants of Business Cycle Co-movement: A Robust Analysis J Monet Econ 52 113-157
  • [7] Giuliano P(2008)Unemployment and Consumption Near and Far Away from the Mediterranean? J Popul Econ 21 255-280
  • [8] Alesina A(2002)Did Colonization Matter for Growth? An Empirical Investigation on the Causes of Africa’s Underdevelopment Eur Econ Rev 46 1851-1871
  • [9] Summers L(2012)ClubMed? Business Cycles in the Mediterranean Basin J Int Econ 88 162-175
  • [10] Altug S(2012)Do Institutional Changes Affect Business Cycles? Evidence from Europe J Econ Dyn Control 36 1520-1533
12345678