In this paper we propose two dynamic approaches to measure synchronisation in the Euro area. First of all to be able to take into account dynamics in correlation and possible changes in variability, we consider a multivariate DCC GARCH model. Secondly, we propose to use the set of probabilistic...

This book discusses recent developments in theoretical and empirical business cycle analysis, identifying possible applications of sophisticated tools by private and public institutions involved in the analysis of economic fluctuations and facilitating interaction between academics, researchers...