The great synchronization of international trade collapse
AbstractIn this paper we examine the extent of international trade synchronization during periods of international trade collapses and US recessions. Based on monthly data for the G7 economies over the period 1961-2011, our results suggest rather idiosyncratic patterns of international trade synchronization during international trade collapses and US recessions. During the great recession of 2007-2009, however, international trade experienced the most sudden, severe and globally synchronized collapse.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 39859.
Date of creation: 05 Jul 2012
Date of revision:
International trade collapse; Synchronization; Recession; Dynamic conditional correlation;
Other versions of this item:
- Antonakakis, Nikolaos, 2012. "The great synchronization of international trade collapse," Economics Letters, Elsevier, vol. 117(3), pages 608-614.
- Nikolaos Antonakakis, 2012. "The Great Synchronization of International Trade Collapse," Department of Economics Working Papers wuwp142, Vienna University of Economics, Department of Economics.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- F15 - International Economics - - Trade - - - Economic Integration
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-14 (All new papers)
- NEP-HIS-2012-07-14 (Business, Economic & Financial History)
- NEP-INT-2012-07-14 (International Trade)
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