In this paper we investigate the characteristics of business cycles fluctuations in the countries of the Mediterranean region by applying the Christiano-Fitzgerald bandpass filter to the output series of 12 Mediterranean countries over the period 1950-1998. The main properties of business cycle fluctuations (persistence, volatility, asymmetry and synchronization) are computed with reference to ...

This paper analyses the evolution of the business cycle worldwide synchronization since 1960. For that, it purposes a correlation index that allows to measure the cross-country synchronization period per period rather than using time windows. This new methodlogy allows to control for outliers when synchronizion across countries increased/droped unexpectedly in single years, and so, it can check...

The global economy is a complex dynamical system, whose cyclical fluctuations can mainly be characterized by simultaneous recessions or expansions of major economies. Thus, the researches on the synchronization phenomenon are key to understanding and controlling the dynamics of the global economy. Based on a pairwise maximum entropy model, we analyze the business cycle synchronization of the G7...