Spillover of sentiment in the European Union: Evidence from time-and frequency-domains

doi:10.1016/j.iref.2020.03.014

CASISD OpenIR

	Spillover of sentiment in the European Union: Evidence from time-and frequency-domains; Spillover of sentiment in the European Union: Evidence from time-and frequency-domains
	Plakandaras, Vasilios; Tiwari, Aviral Kumar; Gupta, Rangan; Ji, Qiang
发表期刊	INTERNATIONAL REVIEW OF ECONOMICS & FINANCE ; INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
摘要	The issue of economic integration of the economies consisting the European Union across its various leaps of expansion throughout the years has been brought back to light during the recent sovereign crisis of the southern economies of the Union, that lead to the necessity of large bailout programs. In this paper we depart from the typical approach in the field and examine economic synchronization through the lenses of economic sentiment spillovers based on the economic confidence index for 14 European economies. In doing so, we analyze sentiment spillovers both in time- and in the frequency-domains in order to reveal the dissemination of the perception of economic agents about the future economic climate throughout the EU. Our empirical findings support the segregation of the Union in the core European countries and the southern economies and highlight the role of the Germany as the dominant economy setting the pace for the Union after 2008. Interestingly, large economies as Netherlands and Austria appear to be neutral, not because of an isolation from the region, but due to changing roles in transmitting and accepting expectations about the economic environment.; The issue of economic integration of the economies consisting the European Union across its various leaps of expansion throughout the years has been brought back to light during the recent sovereign crisis of the southern economies of the Union, that lead to the necessity of large bailout programs. In this paper we depart from the typical approach in the field and examine economic synchronization through the lenses of economic sentiment spillovers based on the economic confidence index for 14 European economies. In doing so, we analyze sentiment spillovers both in time- and in the frequency-domains in order to reveal the dissemination of the perception of economic agents about the future economic climate throughout the EU. Our empirical findings support the segregation of the Union in the core European countries and the southern economies and highlight the role of the Germany as the dominant economy setting the pace for the Union after 2008. Interestingly, large economies as Netherlands and Austria appear to be neutral, not because of an isolation from the region, but due to changing roles in transmitting and accepting expectations about the economic environment.
	2020 ; 2020
卷号	68
DOI	10.1016/j.iref.2020.03.014 ; 10.1016/j.iref.2020.03.014
语种	英语 ; 英语
引用统计
文献类型	期刊论文
条目标识符	http://ir.casisd.cn/handle/190111/9786
专题	中国科学院科技战略咨询研究院
推荐引用方式 GB/T 7714	Plakandaras, Vasilios,Tiwari, Aviral Kumar,Gupta, Rangan,et al. Spillover of sentiment in the European Union: Evidence from time-and frequency-domains, Spillover of sentiment in the European Union: Evidence from time-and frequency-domains[J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, INTERNATIONAL REVIEW OF ECONOMICS & FINANCE,2020, 2020,68, 68.
APA	Plakandaras, Vasilios,Tiwari, Aviral Kumar,Gupta, Rangan,&Ji, Qiang.(2020).Spillover of sentiment in the European Union: Evidence from time-and frequency-domains.INTERNATIONAL REVIEW OF ECONOMICS & FINANCE,68.
MLA	Plakandaras, Vasilios,et al."Spillover of sentiment in the European Union: Evidence from time-and frequency-domains".INTERNATIONAL REVIEW OF ECONOMICS & FINANCE 68(2020).