Bank of Portugal studies synchronisation of macroeconomic fluctuations
In a paper titled Cohesion Within the Euro Area and the US: A Wavelet-Based View, authors António Rua and Artur Silva Lopes propose a multivariate measure of synchronisation to assess cohesion across countries or regions by resorting to wavelet analysis.
The wavelet-based measure of cohesion makes the assessment of how synchronisation has evolved over time and across frequencies simultaneously possible.
In particular, the researchers investigate the cohesion among euro area countries and the
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