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Synchronization of Recessions in Major Developed and Emerging Economies

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  • Pami Dua

    ()

  • Anirvan Banerji

    ()

Abstract

This paper examines various measures of synchronization of recessions, including clustering of the onset of recession across economies, proportion of economies in expansion and the diffusion index of international coincident indexes, and shows that the recent global recession was possibly the most concerted in the post world war period. Factors that contributed to the synchronization and severity of the recession, such as trade and financial linkages and timing of policy actions, are analysed. [Working Paper No. 182]

Suggested Citation

  • Pami Dua & Anirvan Banerji, 2010. "Synchronization of Recessions in Major Developed and Emerging Economies," Working Papers id:2859, eSocialSciences.
  • Handle: RePEc:ess:wpaper:id:2859
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    References listed on IDEAS

    as
    1. Pami Dua & Anirvan Banerji, 2000. "An Index of Coincident Economic Indicators for the Indian Economy," Working papers 73, Centre for Development Economics, Delhi School of Economics.
    2. Ruth P. Mack, 1956. "Consumption and Business Fluctuations: A Case Study of the Shoe, Leather, Hide Sequence," NBER Books, National Bureau of Economic Research, Inc, number mack56-1.
    3. Allan Layton & Anirvan Banerji, 2003. "What is a recession?: A reprise," Applied Economics, Taylor & Francis Journals, vol. 35(16), pages 1789-1797.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tiago Trancoso, 2013. "Global macroeconomic interdependence: a minimum spanning tree approach," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 5(1), pages 179-189, June.
    2. repec:wsi:serxxx:v:62:y:2017:i:05:n:s021759081550099x is not listed on IDEAS
    3. Pami Dua & Divya Tuteja, 2015. "Global Recession and Eurozone Debt Crisis: Impact on Exports of China and India," Working Papers id:7386, eSocialSciences.
    4. repec:taf:macfem:v:9:y:2016:i:3:p:217-240 is not listed on IDEAS

    More about this item

    Keywords

    synchronization; recessions; international; global recession; policy actions;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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