Aruoba, S. Boragan; Terrones, Marco; Kose, M. Ayhan; … - International Monetary Fund (IMF) - 2011
We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework …. First, our measure of the global business cycle, the common G-7 real activity factor, explains a significant amount of cross … G-7 business cycle synchronization among country factors has changed over time. …