Contessi, Silvio; De Pace, Pierangelo; Francis, Johanna L. - In: Economics Letters 115 (2012) 1, pp. 122-127
Using formal statistical tests, we detect (i) significant volatility increases for various types of capital flows for a period of changes in business cycle comovement among the G7 countries, and (ii) mixed evidence of changes in covariances and correlations with a set of macroeconomic variables.