In this book, experts in international economics analyze the synchronization of business cycles and their volatility. Based on this, they discuss the need and feasibility of internationally coordinating monetary, fiscal, and exchange rate policies

One lens through which to view global economic interdependence and the spillover of shocks is that of decoupling (and then recoupling). Decoupling between developed and developing countries can be seen in the strong economic performance of China and India relative to that of the United States...