Rozada, Martín Gonzalez; Fanelli, José - Escuela de Negocios, Universidad Torcuato Di Tella - 2003
The paper analyzes cyclical comovements in the Mercosur area differentiating idiosyncratic from common shocks. In the Mercosur (or any region for that matter) shocks can be country-specific, affecting only one country or a specific set of countries (for example, a weather-related shock, a...