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dc.contributor.authorFichtner, Ferdinanden_US
dc.description.abstractThis paper studies the role of the German economy for the existence of the so called European business cycle, a term referring to the regularly observed synchronization of the national business cycles in Europe. Using a three-country general equilibrium model, we are able to simulate impulse response functions mimicking the important features observed in the data. Focusing on the importance of shocks affecting the German GDP we show that trade-related transmission from Germany to the other European economies is only of minor importance for the synchronization of national business cycles. On the contrary, our findings suggest that the influence of common shocks and of technology spillovers accounts for most of the parallels in economic performance.en_US
dc.publisherUniversität zu Köln, Institut für Wirtschaftspolitik (iwp) Kölnen_US
dc.relation.ispartofseriesIWP Discussion Paper 2003/1en_US
dc.subject.keywordEuropean business cycleen_US
dc.subject.keywordOpen economy macroeconomicsen_US
dc.subject.keywordReal business cyclesen_US
dc.subject.stwReal Business Cycleen_US
dc.titleGermany and the European business cycle: An analysis of causal relations in an international real business cycle modelen_US
dc.typeWorking Paperen_US
Appears in Collections:iwp Discussion Papers, Institut für Wirtschaftspolitik, Universität Köln

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