Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - In: Journal of International Economics 87 (2012) 1, pp. 178-190
This paper analyzes the interactions between business and financial cycles using an extensive database covering 44 countries for the period 1960:1–2010:4. Our analysis shows that there are strong linkages between the different phases of business and financial cycles. In particular, recessions...
