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Macroeconomic Synchronization Between G3 Countries

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  • Amado Peiró

Abstract

This paper studies the existence of a world business cycle by examining quarterly and annual comovements in production, prices and interest rates in the three main world economies: Germany, Japan and the US. In accordance with earlier studies, contemporaneous relationships clearly dominate short‐term dynamics. The evidence indicates the existence of strong comovements in prices and long‐term interest rates, and, to a lesser degree, in GDP and short‐term interest rates. They are, however, rather unstable over time.

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  • Amado Peiró, 2002. "Macroeconomic Synchronization Between G3 Countries," German Economic Review, Verein für Socialpolitik, vol. 3(2), pages 137-153, May.
    • Handle: RePEc:bla:germec:v:3:y:2002:i:2:p:137-153
    DOI: 10.1111/1468-0475.00055
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    Cited by:

    1. Ansgar Belke & Daniel Gros, 2005. "Asymmetries in the Trans-Atlantic Monetary Policy Relationship: Does the ECB follow the Fed?," CESifo Working Paper Series 1428, CESifo.
    2. Narayan, Seema, 2014. "Integration of current account imbalances in the OECD," Economic Modelling, Elsevier, vol. 38(C), pages 288-295.

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