Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's

Autor:	Antonakakis, Nikolaos
Jazyk:	angličtina
Rok vydání:	2012
Předmět:	RVK QG 010 JEL E3 E32 F4 F41 N10 dynamic conditional correlation / business cycle synchronization / recession / globalisation / G-7 Staaten / Konjunkturzyklus / Synchronisierung / Rezession / Transmissionsmechanismus / Globalisierung / Geschichte 1870 - 2011
Druh dokumentu:	Paper
Popis:	This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870's. Using a dynamic measure of business cycle synchronization, results depend on the globalisation period under consideration. On average, US recessions have significantly positive effects on business cycle co-movements only in the period following the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 economies are documented during recessions that occurred under the classical Gold Standard. During the 2007-2009 recession, business cycles co-movements increased to unprecedented levels. (author's abstract) Series: Department of Economics Working Paper Series
Databáze:	Networked Digital Library of Theses & Dissertations
Externí odkaz:	http://epub.wu.ac.at/3522/1/wp140.pdf Zobrazit plný text záznamu