We propose a dynamic factor model with time-varying parameters and stochastic volatility to analyze the relationship … country-specific capital flow volatility and that the impact of these variables has become even more important since the 2008 …

, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …The globalization of capital and product markets has many implications for economic welfare. Countries can specialize … to unstable international capital flows. At the same time, business cycle volatility in OECD countries seems to have been …

factor are typically small, with the annualized unconditional volatility estimated at 0.06%, but highly persistent, with … estimated persistence at 0.98. Evidence of time variation in the volatility of the global factor is overwhelming as there are … times in which volatility could be several times larger than its unconditional level (about ten times in the aftermath of …

globalization (1985-2005), there has bee some convergence of business cycle fluctuations among the group of industrial economies and … countries but divergence (or decoupling) between them. -- Globalization ; Business cycles ; Macroeconomic fluctuations …

declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business …

declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business …

globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …

using a new quarterly dataset based on IMF archival data. Contrary to the common wisdom, we find that the globalization … period is not associated with more output synchronization at the global level. The world business cycle was as strong during … Bretton Woods (1950-1971) than during the Globalization period (1984-2006). Although globalization did not affect the average …

using a new quarterly dataset based on IMF archival data. Contrary to the common wisdom, we find that the globalization … period is not associated with more output synchronization at the global level. The world business cycle was as strong during … Bretton Woods (1950-1971) than during the Globalization period (1984-2006). Although globalization did not affect the average …

declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business …