Spain ‘decoupled’ from other eurozone economies, says Banque de France paper

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Business cycles in Spain appear to have decoupled from the rest of the eurozone, even as other members converge, according to a working paper published on November 13 by the Banque de France.

Euro Area business cycles in turbulent times: convergence or decoupling?, jointly authored by Filippo Ferroni of the Banque de France and Benjamin Klaus of the European Central Bank, studies the co-movement of business cycles in the eurozone's four largest economies – France, Germany, Italy and Spain.

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