Showing 1 - 10 of 624
We analyse the cross-country dimension of financial cycles by studying cyclical co-movements in credit, house prices, equity prices and interest rates across the G7 economies. We use wavelet-based statistics to assess at which frequencies cyclical fluctuations and their crosscountry co-movements...
Persistent link: https://www.econbiz.de/10012020175
the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
Persistent link: https://www.econbiz.de/10013459721
We study the synchronization of credit booms and busts among 12 major European economies and the United States between 1972-2011. We propose a regression-based procedure to test whether boom-bust phases of credit cycles coincide across countries and to cluster countries with positively...
Persistent link: https://www.econbiz.de/10011299045
We analyze the effect of the geographic expansion of banks across U.S. states on the co-movement of economic activity between states. Exploiting the removal of interstate banking restrictions to construct time-varying instrumental variables at the state-pair level, we find that bilateral banking...
Persistent link: https://www.econbiz.de/10012651086
This paper investigates the international business cycle with new sector level data on hours and output for Canada …
Persistent link: https://www.econbiz.de/10009580709
international comovements of business and financial cycles as well as asymmetries over the business cycle in the US. …
Persistent link: https://www.econbiz.de/10010373684
, which may have helped to cushion recessionary trends within these countries. In this paper the modelling of international …
Persistent link: https://www.econbiz.de/10013428333
The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
Persistent link: https://www.econbiz.de/10011495568
Using a dynamic factor model, we uncover four main empirical regularities on international comovements in a long …-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased …, international comovements within regions have accounted for the bulk of fluctuations in business cycle and inflation. Fourth, prices …
Persistent link: https://www.econbiz.de/10003882168
We examine the effects of increased international integration of both goods and financial markets on business cycle … these spillovers is an empirically determined function of the degree of a country's integration with international goods and …
Persistent link: https://www.econbiz.de/10010414228