Kose, M. Ayhan; Otrok, Christopher; Prasad, Eswar - Deutsche Bundesbank <Frankfurt, Main> / …
This paper analyzes the evolution of the degree of global cyclicalinterdependence over the period 1960-2005. We categorize the 106 countries in oursample into three groups—industrial countries, emerging markets, and other developingeconomies. Using a dynamic factor model, we then decompose...
