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Business Cycles, International Trade and Capital Flows : Evidence from Latin America
Caporale, Guglielmo Maria - 2013
American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the …
Persistent link: https://www.econbiz.de/10013089557
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The G7 Business Cycle in a Globalized World
Carstensen, Kai - 2016
, and inflation volatility, and in global macroeconomic indicators like the oil price, world stock market returns, and … exchange rate volatility. The results indicate that in a globalized world spillovers from emerging markets and industrial … countries other than the G7 play a relevant role for major aspects of the G7 and world business cycle …
Persistent link: https://www.econbiz.de/10012986109
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Global Banking, Trade, and the International Transmission of the Great Recession
Born, Alexandra - 2018
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10012920861
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Fiscal Adjustments and Business Cycle Synchronization
Agnello, Luca - 2013
Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...
Persistent link: https://www.econbiz.de/10013071388
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Fiscal Policy During Business Cycles in Developing Countries : The Case of Africa
Leibfritz, Willi - 2013
Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...
Persistent link: https://www.econbiz.de/10013072104
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Hong Kong Output Dynamics : An Empirical Analysis
Cheung, Yin-Wong - 2021
Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...
Persistent link: https://www.econbiz.de/10013321022
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Exploring the International Linkages of the Euro Area : A Global VAR Analysis
Dees, Stephane - 2006
This paper presents a global model linking individual country vector error-correcting models in which the domestic variables are related to the country-specific variables as an approximate solution to a global common factor model. This global VAR is estimated for 26 countries, the euro area...
Persistent link: https://www.econbiz.de/10012783809
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Trade Intensity and Output Synchronisation : On the Endogeneity Properties of EMU
Caporale, Guglielmo Maria - 2013
Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results...
Persistent link: https://www.econbiz.de/10013083873
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Construction of Composite Business Cycle Indicators in a Sparse Data Environment
Abberger, Klaus - 2011
Business cycle indicators are important instruments for monitoring economic development. When employing indicators one usually relies on a sound statistical database. This paper deals with indicator development in a sparse data situation. Indicator building is merged with temporal...
Persistent link: https://www.econbiz.de/10013120906
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The Output Costs of Hard and Soft Sovereign Default
Trebesch, Christoph - 2016
How costly are sovereign debt crises? In this paper we study output losses during sovereign default and debt renegotiation episodes since 1980. In contrast to previous work, we account for the severity of default and not only for its occurrence. Specifically, we distinguish between “hard”...
Persistent link: https://www.econbiz.de/10012978462