Chang, Koyin; Kim, Yoonbai; Tomljanovich, Marc; Ying, … - In: Journal of Comparative Economics 41 (2013) 1, pp. 212-226
This paper explores different possible factors that have impacted business cycle synchronization across industrialized countries in the past quarter century. We employ a comprehensive model that includes as the main determinants of output co-movements not only trade and financial integration,...