Dr. Marcus Kappler is deputy head of the research group “Growth and Business Cycles” at the Centre for European Economic Research in Mannheim, Germany. He conducts research on international business cycle linkages, European economic integration, and the determinants of potential output.Andreas Sachs is member of the research group "Growth and Business Cycles" at the Centre for European Economic Research in Mannheim, Germany. His research focuses on the analysis of causes of unemployment with special emphasis on the role of institutional rigidities.

• 1 Introduction.- 2 Literature Review.- 3 Descriptive Analysis.- 4 Determinants of Business Cycle Synchronistion.- 5 Shock Propagation  Mechanisms and Business Cycle Convergence.- 6 Summary and Policy Implications.- 7 Appendix.- References.

Dr. Marcus Kappler is deputy head of the research group “Growth and Business Cycles” at the Centre for European Economic Research in Mannheim, Germany. He conducts research on international business cycle linkages, European economic integration, and the determinants of potential output.Andreas Sachs is member of the research group "Growth and Business Cycles" at the Centre for European Economic Research in Mannheim, Germany. His research focuses on the analysis of causes of unemployment with special emphasis on the role of institutional rigidities.

• 1 Introduction.- 2 Literature Review.- 3 Descriptive Analysis.- 4 Determinants of Business Cycle Synchronistion.- 5 Shock Propagation  Mechanisms and Business Cycle Convergence.- 6 Summary and Policy Implications.- 7 Appendix.- References.

Dr. Marcus Kappler is deputy head of the research group “Growth and Business Cycles” at the Centre for European Economic Research in Mannheim, Germany. He conducts research on international business cycle linkages, European economic integration, and the determinants of potential output.Andreas Sachs is member of the research group "Growth and Business Cycles" at the Centre for European Economic Research in Mannheim, Germany. His research focuses on the analysis of causes of unemployment with special emphasis on the role of institutional rigidities.

• 1 Introduction.- 2 Literature Review.- 3 Descriptive Analysis.- 4 Determinants of Business Cycle Synchronistion.- 5 Shock Propagation  Mechanisms and Business Cycle Convergence.- 6 Summary and Policy Implications.- 7 Appendix.- References.