Business Cycle Synchronization Since 1880
AbstractThis paper studies the international business cycle behaviour across 25 advanced and emerging market economies for which 125 years of annual GDP data are available. The picture that emerges is more fragmented than the one drawn by studies that focused on a narrower set of advanced market economies. The paper offers evidence in favour of a secular increase in international business cycle synchronization within a group of European and a group of English-speaking economies that started during 1950-1973 and accelerated since 1973. Yet, in other regions of the world, country-specific shocks are still the dominant forces of business cycle dynamics.
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Bibliographic InfoPaper provided by Economics, The Univeristy of Manchester in its series Centre for Growth and Business Cycle Research Discussion Paper Series with number 153.
Length: 37 pages
Date of creation: 2011
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-BEC-2011-02-05 (Business Economics)
- NEP-CBA-2011-02-05 (Central Banking)
- NEP-HIS-2011-02-05 (Business, Economic & Financial History)
- NEP-OPM-2011-02-05 (Open Economy Macroeconomics)
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- Nikolaos Antonakakis, 2012.
"Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's,"
Department of Economics Working Papers
wuwp140, Vienna University of Economics, Department of Economics.
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- Matthias Morys & Martin Ivanov, 2013. "The emergence of a European region: Business cycles in South-East Europe from political independence to World War II," Centre for Historical Economics and Related Research at York (CHERRY) Discussion Papers 13/01, CHERRY, c/o Department of Economics, University of York.
- Ioannis Tsamourgelis & Persa Paflioti & Thomas Vitsounis, 2013. "Seaports Activity (A)synchronicity, Trade Intensity and Business Cycle Convergence: A Panel Data Analysis," International Journal of Maritime, Trade & Economic Issues (IJMTEI), International Journal of Maritime, Trade & Economic Issues (IJMTEI), vol. 0(1), pages 67-92.
- Tiago Trancoso, 2013. "Global macroeconomic interdependence: a minimum spanning tree approach," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 5(1), pages 179-189, June.
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