Bundesbank paper looks at cross-border cycles in six European economies
Equity prices and interest rates more strongly synchronised than real economic activity – researchers
A discussion paper from the Deutsche Bundesbank investigates whether there is cross-country synchronisation in the cycles of credit, house prices, equity prices and interest rates of six European countries.
In Financial cycles in euro area economies: a cross-country perspective, Davor Kunovac, Martin Mandler and Michael Scharnagl examine data from Belgium, France, Germany, Italy, the Netherlands and Spain. Their data for each country starts in 1980 and ends in 2016.
The authors apply a range
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