The Identification of the Causes of Business Cycles Across Countries
AbstractEmpirical research has been conducted on the various theories of the business cycle over many countries. However, very little research has attempted to undertake a multi-country disaggregate investigation into the sources of output change. This paper decomposes fluctuations in industry output in a particular country into: (1) a nation specific shock; (2) an industry specific shock; (3) a world shock; and (4) an idiosyncratic factor. Using a dynamic factor analysis-state-space approach, the paper finds that the nation-specific shock is the most important impulse.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 90/4.
Date of creation: 01 Jan 1990
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- Imbs, Jean, 2007.
"Growth and volatility,"
Journal of Monetary Economics, Elsevier,
Elsevier, vol. 54(7), pages 1848-1862, October.
- Jean Imbs, 2006. "Growth and Volatility," Swiss Finance Institute Research Paper Series, Swiss Finance Institute 06-09, Swiss Finance Institute.
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