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Sectors and the OECD Business Cycle

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  • Imbs, Jean

Abstract

This paper argues that economic structure is a robust determinant of the OECD business cycle. Countries that share similar manufacturing sectors are shown to display more synchronized business cycles. Interestingly, the well-established rule of trade impacting on rich countries' business cycles is thus mitigated, and its direct impact lessened. The structure of sectoral output also goes some way towards explaining idiosyncracies in the UK business cycle.

Suggested Citation

  • Imbs, Jean, 2000. "Sectors and the OECD Business Cycle," CEPR Discussion Papers 2473, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:2473
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    References listed on IDEAS

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    Cited by:

    1. Michael Graff, 2005. "Internationale Konjunkturverbunde," KOF Working papers 05-108, KOF Swiss Economic Institute, ETH Zurich.
    2. Oscar Avila-Montealegre & Carter Mix, 2020. "Common Trade Exposure and Business Cycle Comovement," International Finance Discussion Papers 1306, Board of Governors of the Federal Reserve System (U.S.).
    3. Michael Graff, 2012. "Internationale Konjunkturverbunde und die Schweiz," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, vol. 6(2), pages 57-71, June.
    4. Simeon Coleman, 2011. "Investigating Business Cycle Synchronization in West Africa," NBS Discussion Papers in Economics 2011/01, Economics, Nottingham Business School, Nottingham Trent University.
    5. Abbas Valadkhani & Charles Harvie & Indika Karunanayake, 2013. "Global output growth and volatility spillovers," Applied Economics, Taylor & Francis Journals, vol. 45(5), pages 637-649, February.
    6. Graff Michael, 2006. "Internationale Konjunkturverbunde / International Business Cycles," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 226(4), pages 385-417, August.
    7. Nabil Alimi, 2015. "The Effect of Trade, Specialization and Financial Integration on Business Cycles Synchronization in Some Mediterranean Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(1), pages 110-118, January.
    8. Chiquiar, Daniel & Ramos-Francia, Manuel, 2005. "Trade and business-cycle synchronization: evidence from Mexican and U.S. manufacturing industries," The North American Journal of Economics and Finance, Elsevier, vol. 16(2), pages 187-216, August.
    9. Pundit,Madhavi, 2013. "Comovement in business cycles and trade in intermediate goods," Working Papers 13/116, National Institute of Public Finance and Policy.
    10. Krieger-Boden, Christiane, 2000. "Globalization, integration and regional specialization," Kiel Working Papers 1009, Kiel Institute for the World Economy (IfW Kiel).
    11. Gómez-Zaldívar, Manuel & Garcia-Barragan, Fernando, 2022. "Trade Integration and Intra-national Business Cycle Synchronization: Evidence from Mexico’s States from 1980 to 2019," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 37(2), pages 216-234.

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    More about this item

    Keywords

    Economic structure; International business cycles; Trade;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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