Centoni, Marco; Cubadda, Gianluca; Hecq, Alain - Centro di Studi Internazionali Sull'Economia e la … - 2008
This paper proposes an econometric framework to assess the importance of common shocks and common transmission mechanisms in generating international business cycles. Then we show how to decompose the cyclical effects of permanent-transitory shocks into those due to their domestic and those due...