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[15] % di Giovanni, J. and Levchenko, A., “Putting the Parts Together: Trade, Vertical Linkages, and Business Cycle Comovement”, American Economic Journal: Macroeconomics, Vol. 2, No 2, April 2010. [16] Meta analysis by Campos et al. (2017) that encompasses the estimates, design and estimation characteristics of more than 60 studies on business cycle correlations between EU countries.