World Business Cycles under Fixed and Flexible Exchange Rates
This paper studies the behavior of monthly industrial production indices during the recent periods of fixed and flexible exchange rate s. The central conclusions are as follows: industrial production indices are subject to stochastic trend growth; the variances of the monthly growth rates are higher in the flexible exchange rate period than in the fixed exchange rate period, and are related to the degree of openness and to national income-more open economies tend to experience more variability while richer, more diversified economies experience less; and output movements have been correlated across countries under both exchange rate regimes, and there is evidence of a world business cycle. Copyright 1988 by Ohio State University Press.
Volume (Year): 20 (1988)
Issue (Month): 4 (November)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879|
When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:20:y:1988:i:4:p:621-32. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.