Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7364024 | Journal of International Economics | 2016 | 46 Pages |
Abstract
In this paper, we provide a comprehensive analysis of the time-varying interdependence among the economic cycles of the major world economies during the post-Great Moderation period. We document a significant increase in the global business cycle interdependence occurred in the early 2000s. Such increase is mainly attributed to the emerging market economies, since their business cycles became more synchronized with the rest of the world around that time. Moreover, we find that the increase in global interdependence is highly related to decreasing differences in sectoral composition among countries.
Related Topics
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Authors
Lorenzo Ductor, Danilo Leiva-Leon,