Large-Scale Synchrony, Global Interdependence and Contagion

We construct a simple firm-based model of global interdependence. We show how extremely strong statistical correlations can naturally develop between countries even if the interconnections between those countries remain very weak. Potential policy implications of this result are also discussed.

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Year of publication:	2001-06-07
Authors:	Friedman, Eric ; Johnson, Simon ; Landsberg, Adam
Institutions:	Department of Economics, Rutgers University-New Brunswick
Subject:	large scale synchrony

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Extent:	application/pdf
Series:	Departmental Working Papers.
Type of publication:	Book / Working Paper
Classification:	F40 - Macroeconomic Aspects of International Trade and Finance. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005750187