Calderón, César; Fuentes, J. Rodrigo - In: Journal of Development Economics 109 (2014) C, pp. 98-123
We document the properties of business cycles of 71 countries (23 industrial countries and 48 emerging market economies, or EMEs), from 1970q1 to 2012q4 using the Harding and Pagan dating algorithm. First, recessions are deeper, steeper and costlier among EMEs (especially in East Asia and Latin...