Karadimitropoulou, Aikaterini; León-Ledesma, Miguel - In: Journal of Economic Dynamics and Control 37 (2013) 12, pp. 2913-2927
Do sector-specific factors common to all countries play an important role in explaining business cycle co-movement? We address this question by analyzing international co-movements of value added (VA) growth in a multi-sector dynamic factor model. The model contains a world factor,...