caa a22 4500 605534349 CHVBK 20210128100842.0 cr unu---uuuuu 210128e20150801xx s 000 0 eng 10.1007/s10663-014-9268-9 doi (NATIONALLICENCE)springer-10.1007/s10663-014-9268-9 Disentangling different patterns of business cycle synchronicity in the EU regions [Elektronische Daten] [Ageliki Anagnostou, Ioannis Panteladis, Maria Tsiapa] The present paper provides a comprehensive and consolidated analysis of the business cycle synchronicity between European regions and EU-14. Our study is conducted in three levels. First, we analyse regional business cycle synchronization with the EU-14 benchmark cycle, using real GDP in 200 NUTS II regions for a period of 30years (1980-2009), detrended by Hodrick-Prescott filter. Secondly, we employ a VAR type methodology as a measurement devise to examine the dynamic relationship of the regional business cycles. Our main interest is to study the dynamics of business cycles as well as the pattern of the transmission mechanism to regions with different level of development. Finally, we empirically extend the research on identifying factors which might drive regional business cycle synchronization. In particular, we analyse the role of trade integration-cum- the sectoral patterns of specialisation as determinants of regional growth cycle correlations with the EU-14. Moreover, we draw attention to regional productivity as another possible determinant of business cycle synchronisation associated with the pattern of the spatial distribution of economic activities across regions. Panel three-stage least-squares estimation is implemented for the simultaneous equations between determinants and regional business cycles synchronisation. Springer Science+Business Media New York, 2014 Business cycles nationallicence Synchronization nationallicence 3SLS nationallicence Panel VAR nationallicence Impulse response function nationallicence EU 14 regions nationallicence Anagnostou Ageliki Department of Economics, University of Thessaly, Volos, Greece aut Panteladis Ioannis Department of Planning and Regional Development, University of Thessaly, Volos, Greece aut Tsiapa Maria Department of Planning and Regional Development, University of Thessaly, Volos, Greece aut Empirica Springer US; http://www.springer-ny.com 42/3(2015-08-01), 615-641 0340-8744 42:3<615 2015 42 10663 https://doi.org/10.1007/s10663-014-9268-9 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10663-014-9268-9 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Anagnostou Ageliki Department of Economics, University of Thessaly, Volos, Greece aut NATIONALLICENCE 700 1- Panteladis Ioannis Department of Planning and Regional Development, University of Thessaly, Volos, Greece aut NATIONALLICENCE 700 1- Tsiapa Maria Department of Planning and Regional Development, University of Thessaly, Volos, Greece aut NATIONALLICENCE 773 0- Empirica Springer US; http://www.springer-ny.com 42/3(2015-08-01), 615-641 0340-8744 42:3<615 2015 42 10663