The aim of this contribution is to investigate the determinants of the cyclical position in some Baltics and South-Eastern European countries as well as peripheral European countries over the period 2000-2013. Specifically, we consider a sample of eight economies: Croatia, Estonia, Latvia, Lithuania, Poland and Romania for the sub-sample of Baltics and South-Eastern European economies; and Greece, Ireland, Portugal, and Spain for the sub-sample covering EMU peripheral countries