Spain ‘decoupled’ from other eurozone economies, says Banque de France paper
Spanish economy no longer moving with the rest of the eurozone
Business cycles in Spain appear to have decoupled from the rest of the eurozone, even as other members converge, according to a working paper published on November 13 by the Banque de France.
Euro Area business cycles in turbulent times: convergence or decoupling?, jointly authored by Filippo Ferroni of the Banque de France and Benjamin Klaus of the European Central Bank, studies the co-movement of business cycles in the eurozone's four largest economies – France, Germany, Italy and Spain.
The
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