We investigate macroeconomic fluctuations in the Mediterranean basin, their similarities and convergence. A model with four indicators, roughly covering the
West, the East and the Middle East and the North Africa portions of the
Mediterranean, characterizes well the historical experience since the early 1980.
Idiosyncratic causes still dominate domestic cyclical fluctuations in many countries. Convergence and divergence coexist are local and transitory. The cyclical
outlook for the next few years ...
We investigate macroeconomic fluctuations in the Mediterranean basin, their similarities and convergence. A model with four indicators, roughly covering the
West, the East and the Middle East and the North Africa portions of the
Mediterranean, characterizes well the historical experience since the early 1980.
Idiosyncratic causes still dominate domestic cyclical fluctuations in many countries. Convergence and divergence coexist are local and transitory. The cyclical
outlook for the next few years is rosier for the East than for the West.
+