Contessi, Silvio; DePace, Pierangelo; Francis, Johanna - Federal Reserve Bank of St. Louis - 2008
(covariance and correlation) to business cycle variables of 22 emerging and OECD countries. Disaggregated flows have different … relationship to business cycle variables for 22 industrial and emerging
countries. Inward flows are procyclical. Outward and net …
analysis on the behavior of all types of capital flows at the business cycle frequency is still missing.
Unlike the existing …