The great synchronization of international trade collapse
AbstractIn this paper we examine the extent of international trade synchronization during periods of international trade collapses and US recessions. Using dynamic correlations based on monthly trade data for the G7 economies over the period 1961–2011, our results suggest rather idiosyncratic patterns of international trade synchronization during collapses of international trade and US recessions. During the great recession of 2007–2009, however, international trade experienced the most sudden, severe and globally synchronized collapse.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 117 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
International trade collapse; Synchronization; Recession; Dynamic conditional correlation;
Other versions of this item:
- Nikolaos Antonakakis, 2012. "The Great Synchronization of International Trade Collapse," Department of Economics Working Papers wuwp142, Vienna University of Economics, Department of Economics.
- Antonakakis, Nikolaos, 2012. "The great synchronization of international trade collapse," MPRA Paper 39859, University Library of Munich, Germany.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- F15 - International Economics - - Trade - - - Economic Integration
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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