کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
986408 1480825 2011 23 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
International comovements, business cycle and inflation: A historical perspective
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
International comovements, business cycle and inflation: A historical perspective
چکیده انگلیسی

Using a dynamic factor model, we uncover four main empirical regularities on international comovements in a long-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased over the post-WWII period. The contribution of regional comovements, however, has increased significantly. Second, the share of inflation variation due to a global factor has become larger since 1985. Third, over most of the post-WWII period, international comovements within regions have accounted for the bulk of fluctuations in business cycle and inflation. Fourth, prices have become significantly less countercyclical during the post-1984 sample, with the largest contribution due to external developments.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Review of Economic Dynamics - Volume 14, Issue 1, January 2011, Pages 176–198
نویسندگان
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