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:
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 Macroeconomic)
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