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We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012170616
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012178610
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 …, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off by …
Persistent link: https://www.econbiz.de/10012159612
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10011800166
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10013121741
the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
Persistent link: https://www.econbiz.de/10013296625
the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
Persistent link: https://www.econbiz.de/10013459721
the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
Persistent link: https://www.econbiz.de/10014258313
. Furthermore there is evidence that the World Economy Outlook published by the IMF has systematically been biased upwards …
Persistent link: https://www.econbiz.de/10012980647
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 …, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off by …
Persistent link: https://www.econbiz.de/10012841841