2021
DOI: 10.3390/e23091213
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Abstract: The pattern of financial cycles in the European Union has direct impacts on financial stability and economic sustainability in view of adoption of the euro. The purpose of the article is to identify the degree of coherence of credit cycles in the countries potentially seeking to adopt the euro with the credit cycle inside the Eurozone. We first estimate the credit cycles in the selected countries and in the euro area (at the aggregate level) and filter the series with the Hodrick–Prescott filter for the period… Show more

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Cited by 2 publications
(2 citation statements)
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“…Their results suggest an increased coherence among business credit cycles while coherence among the mortgage and total credit cycles has decreased. Criste et al. (2021) also use the same methodology to investigate the credit cycle synchronicity across countries seeking to adopt the euro and find that the credit cycle synchronization has increased after the global financial crisis.…”
Section: Related Literaturementioning
confidence: 99%
“…Their results suggest an increased coherence among business credit cycles while coherence among the mortgage and total credit cycles has decreased. Criste et al. (2021) also use the same methodology to investigate the credit cycle synchronicity across countries seeking to adopt the euro and find that the credit cycle synchronization has increased after the global financial crisis.…”
Section: Related Literaturementioning
confidence: 99%
“…The goal of the fourth paper [ 4 ] is to identify the degree of coherence of credit cycles in the countries potentially seeking to adopt the euro with the credit cycle inside the Eurozone. The indicators that define the credit cycle similarity and synchronicity in the selected countries and a set of entropy-based measures (i.e., the block entropy, the entropy rate, the Bayesian entropy) are calculated.…”
mentioning
confidence: 99%