Cunha, Alexandre Barros da; Sandes, Jorge Reis; … - In: Brazilian Business Review 2 (2005) 2, pp. 172-186
We study the business cycle component of the per capita gross domestic product of ten South American and six East Asian countries during the period 1970-2000. Both sets of countries display an average volatility roughly equal to twice the U.S. one. Average persistence in each of these areas is...