Open Access Journal Article

Business Cycles Synchronization: Literature Review

by Chrysostomos Stoforos a Stavros Degiannakis a,* Panagiotis Delis a George Filis b  and  Theodosios Palaskas a
Department of Economic and Regional Development, Panteion University of Social and Political Sciences, Athens, Greece
Department of Economics, University of Patras, Rio, Greece
Author to whom correspondence should be addressed.
JEA  2024, 85; 3(4), 85;
Received: 11 December 2023 / Accepted: 26 February 2024 / Published Online: 28 February 2024


Following the seminal paper on Optimum Currency Areas (OCA) by Mundell (1961) a wealth of literature has been published on the business cycles synchronisation and its main determinants. This work provides a systematic review of this research field both at country-level synchronization and regional level. The paper aims to evaluate the contribution of the related literature’s methodologies to the measurement of the business cycle and the estimation of the level of synchronization. The discussion of the collected papers is expected to substantially assist researchers, practitioners, and policy makers keen to employ themselves in the area of business cycles synchronisation.

Copyright: © 2024 by Stoforos, Degiannakis, Delis, Filis and Palaskas. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.


Hellenic Foundation for Research and Innovation (1360)

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ACS Style
Stoforos, C.; Degiannakis, S.; Delis, P.; Filis, G.; Palaskas, T. Business Cycles Synchronization: Literature Review. Journal of Economic Analysis, 2024, 3, 85.
AMA Style
Stoforos C, Degiannakis S, Delis P, Filis G, Palaskas T. Business Cycles Synchronization: Literature Review. Journal of Economic Analysis; 2024, 3(4):85.
Chicago/Turabian Style
Stoforos, Chrysostomos; Degiannakis, Stavros; Delis, Panagiotis; Filis, George; Palaskas, Theodosios 2024. "Business Cycles Synchronization: Literature Review" Journal of Economic Analysis 3, no.4:85.
APA style
Stoforos, C., Degiannakis, S., Delis, P., Filis, G., & Palaskas, T. (2024). Business Cycles Synchronization: Literature Review. Journal of Economic Analysis, 3(4), 85.

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