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Lars Jonung. Photo.

Lars Jonung

Professor emeritus

Lars Jonung. Photo.

Business Cycle Synchronization In Europe : Evidence From The Scandinavian Currency Union

Author

  • Lars Jonung
  • Ulf Michael Bergman

Summary, in English

In this paper we study business cycle synchronization in the three Scandinavian countries Denmark, Norway and Sweden prior to, during and after the Scandinavian Currency Union 1873–1913. We find that the degree of synchronization tended to increase during the currency union, thus supporting earlier empirical evidence. Estimates of factor models suggest that common Scandinavian shocks are important for these three countries. At the same time we find evidence suggesting that the importance of these shocks does not depend on the monetary regime.

Publishing year

2011-02-21

Language

English

Pages

268-292

Publication/Series

Manchester School

Volume

79

Issue

2

Document type

Journal article

Publisher

Wiley-Blackwell

Topic

  • Economic History

Status

Published

ISBN/ISSN/Other

  • ISSN: 1463-6786