Nagayasu, Jun - In: Japan and the World Economy 22 (2010) 4, pp. 219-227
This paper analyzes macroeconomic interdependence among 10 Asian economies. In this connection, we decompose their macroeconomic activities (real GDP) into common and country-specific components using the Bai-Ng method (2004). Our results suggest first that both components are non-stationary and...