UK business cycle synchronization with Germany and the US: New evidencen from time-frequency domain and structure of economic growth

摘要

This article uses a time-space approach to check the UK business cycle synchronization with Germany and the US. As a novelty, we consider the co-movements in terms of economic growth rate structure. In line with the existing studies, we discover that the UK business cycle is more synchronized with the US then with Germany, and that the co-movements have intensified lately. We also show that co-movements are reduced in terms of business cycle structure and are time-frequency-dependent. Finally, w