Will business cycles in the Euro Area converge: a critical survey of empirical research

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Recessions, recoveries and regional resilience: evidence on Italy (2015, background): “Regions may become more 4 synchronized in reacting to shocks ex post the institution of a common market (Barrios and Lucio, 2003), depending on the distribution of human capital (De Haan et al., 2008) or according to a particular product fragmentation across territories (Ng, 2010).”
Measuring Synchronicity and Co-Movement of Business Cycles with an Application to the Euro Area (2007, neutral): “See Frankel and Rose (1998), Kose et al.”
An Optimum-Currency-Area Odyssey (2009, background): “With regard to the first two issues, Dellas (2006) showed that nominal-wage rigidity and imperfect information tend to favour a passive, fixed-exchange rate regime.”
Regional business cycle synchronization in Europe? (2007, methodology): “Even though it has been criticized, the Pearson correlation coefficient is the most widely used technique.3 De Haan et al. (2007) show that the theoretical measure based on the potential loss of welfare due to asymmetric GDP fluctuations in the absence of risk sharing mechanisms as constructed by…”