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This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...
Persistent link: https://www.econbiz.de/10013320078
, the reverse is also true. Output shocks from emerging Asia (and the People's Republic of China [PRC]) have a significant …
Persistent link: https://www.econbiz.de/10011283453
This article investigates the effects of the different exchange rate regimes on business cycles comovement between advanced and emerging countries. We use the Granger Causality test (VAR model) on panel data to examine the causal relationships. Our findings show the existence of a bidirectional...
Persistent link: https://www.econbiz.de/10013373499
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Persistent link: https://www.econbiz.de/10001673196
In this paper, we develop an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows...
Persistent link: https://www.econbiz.de/10013320974
We study the statistical relationship between the world business cycle and the global temperature cycle. To amplify the signal-to-noise ratio, we estimate a two-state latent dynamic process from the original data using the endogenous regime-switching methodology. Subsequently, we apply a...
Persistent link: https://www.econbiz.de/10015196386
In this paper, we develop an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows...
Persistent link: https://www.econbiz.de/10011411238
We study how credit supply shocks in the US, the euro area and Japan are transmitted to other economies. We use the … recently-developed GVAR approach to model financial variables jointly with macroeconomic variables in 33 countries for the … bilateral trade and inward foreign direct investment or outward banking claim exposures in a GVAR fits the data better than …
Persistent link: https://www.econbiz.de/10009389753
Investigating the link between ISO 9000 standards and bilateral exports, this paper contributes to the literature on standardization and international trade. A debate exists as to how ISO 9000 impacts trade. First, it has been argued that ISO 9000 is a "common language" that lowers information...
Persistent link: https://www.econbiz.de/10014028462