This study investigates the effects of extra-ECOWAS merchandise trade and investment flows on the transmission of business cycles in ECOWAS between 1985 and 2014. The study finds that total trade and foreign direct investment (FDI) significantly influence the transmission of business cycles with...

This paper investigates which shocks drive asynchrony of business cycles in the euro area. Thereby, it unites two strands of literature, those on common features and on structural VAR analysis. In particular, we show that the presence of a common cycle implies collinearity of structural impulse...