The Great Synchronization of International Trade Collapse
AbstractIn this study we provide novel results on the extent of international trade synchronization during periods of 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 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 Vienna University of Economics, Department of Economics in its series Department of Economics Working Papers with number wuwp142.
Date of creation: Jun 2012
Date of revision:
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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.
- Antonakakis, Nikolaos, 2012. "The great synchronization of international trade collapse," MPRA Paper 39859, University Library of Munich, Germany.
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- 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
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