Synchronization of Recessions in Major Developed and Emerging Economies
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]
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- 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, September.
- 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.
- Allan P. Layton & Anirvan Banerji, 2001.
"What Is A Recession?: A Reprise,"
School of Economics and Finance Discussion Papers and Working Papers Series
095, School of Economics and Finance, Queensland University of Technology.
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