Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153801
Authors: 
Canova, Fabio
Ciccarelli, Matteo
Year of Publication: 
2011
Series/Report no.: 
ECB Working Paper 1367
Abstract: 
We investigate the similarities of macroeconomic fluctuations in the Mediterranean basin and their convergence. A model with three indicators, covering the West, the East and the MENA portions of the Mediterranean, characterizes well the historical experience since the early 1980. Convergence and divergence coexist in the region and are reversible. Except for the West, domestic cyclical fluctuations are still due to national and idiosyncratic causes. The outlook for the next few years looks rosier for the MENA and the East blocks than for the West.
Subjects: 
Bayesian methods
business cycles
developing and developed countries
Mediterranean basin
JEL: 
C11
C33
E32
Document Type: 
Working Paper

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