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The Increasing Synchronization of International Recessions

In: Macroeconometric Methods

Author

Listed:
  • Anirvan Banerji

    (Economic Cycle Research Institute)

  • Pami Dua

    (University of Delhi)

Abstract

This paper examines various measures of synchronization of recessions, including clustering of the onset of and exit from recession across economies, the proportion of economies in expansion, and the diffusion index of international coincident indexes. It shows that the recent COVID recession and recovery were the most concerted in the post-world war period. Factors that contributed to the synchronization and severity of the recession, such as common shocks, trade and supply chain dynamics, and financial linkages, are analyzed.

Suggested Citation

  • Anirvan Banerji & Pami Dua, 2023. "The Increasing Synchronization of International Recessions," Springer Books, in: Pami Dua (ed.), Macroeconometric Methods, chapter 0, pages 377-390, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-7592-9_13
    DOI: 10.1007/978-981-19-7592-9_13
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    More about this item

    Keywords

    Global recession; COVID pandemic; Synchronization measures;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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