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Classical Business Cycles in America: Are National Business Cycles Synchronised?

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  • Mejia-Reyes, P.

Abstract

This paper provides further evidence on the synchronization between business cycle regimes in seven American countries by using a classical business cycles approach. Despite recent increasing international economic transactions within this continent, our results suggest that national business cycles are largely idiosyncratic, except for the United States and Canada. Thus, international coordination of macroeconomic policies may not be effective, at least in the short-run. Also, as a by product, we find evidence of asymmetries between expansions and recessions in mean, volatility and duration in most countries.

Suggested Citation

  • Mejia-Reyes, P., 2004. "Classical Business Cycles in America: Are National Business Cycles Synchronised?," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 1(3), pages 75-102.
    • Handle: RePEc:eaa:ijaeqs:v:1:y2004:i:1_16
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    More about this item

    Keywords

    Business cycle regimes; international synchronization; North America; South America;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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