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Developing country business cycles: Revisiting the stylised facts

Male, Rachel - 2010

Identifying business cycle stylised facts is essential as these often form the basis for the construction and validation of theoretical business cycle models. Furthermore, understanding the cyclical patterns in economic activity, and their causes, is important to the decisions of both...

Persistent link: https://www.econbiz.de/10010280739

Labour market fluctuations: An RBC model for emerging countries

Coskun, Sevgi - In: Central Bank Review (CBR) 19 (2019) 4, pp. 141-153

volatility (relative to output volatility) are lower, while the volatility of productivity and wages are 2–3 times higher in EMEs … countries, but the model with investment adjustment cost improves the performance of relative volatility of wages and hours, as … labour wedge and find that the total labour wedge (relative to output volatility) is more volatile over the business cycle in …

Persistent link: https://www.econbiz.de/10012217589

Business cycle dynamics in the CEE countries: a political economy approach

Adalet, Müge; Öz, Sumru - 2010

This paper uses a simple VAR analysis to examine 5 CEE countries (the Czech Republic, Hungary, Poland, Romania and Slovakia) in order to understand whether their business cycles are synchronized with each other and/or with the major economies that they are supposed to be linked with, namely the...

Persistent link: https://www.econbiz.de/10010273651

The Synchronization of GDP Growth in the G7 during U.S. Recessions. Is this Time Different?

Antonakakis, Nikolaos; Scharler, Johann - 2010

Using the dynamic conditional correlation (DCC) model due to Engle (2002), we estimate time varying correlations of quarterly real GDP growth among the G7 countries. In general, we find that rathe heterogeneous patterns of international synchronization exist during U.S. recessions. During the...

Persistent link: https://www.econbiz.de/10010294906

Business cycle synchronization and insurance mechanisms in the EU

Afonso, António; Furceri, Davide - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10011604890

Exchange Rate and Output Dynamics Between Japan and Korea

Kang, Sammo; Kim, Soyoung; Wang, Yunjong; Yoon, Deok Ryong - 2003

Japan and Korea are close countries in terms of economic interaction as well as geography. To quantify the impact of changes in the yen-dollar exchange rate on the Korean economy before and after the crisis in 1997, the sample period has been divided into two sub-periods and the causal...

Persistent link: https://www.econbiz.de/10010295371

Business Cycle Volatility and Globalization: A Survey

Buch, Claudia M. - 2002

, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid … to unstable international capital flows. At the same time, business cycle volatility in OECD countries seems to have been …

Persistent link: https://www.econbiz.de/10010260496

Has the Euro changed the Business Cycle?

Enders, Zeno; Jung, Philip; Müller, Gernot J. - 2009

?cant decline in real exchange rate volatility, 2) signi?cant changes in cross-country correlations, and 3) the volatility of … domestic shocks less important in accounting for the (unchanged) volatility of macroeconomic fundamentals. …

Persistent link: https://www.econbiz.de/10010270020

How Does Globalization Affect the Synchronization of Business Cycles?

Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - 2003

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...

Persistent link: https://www.econbiz.de/10010276292

Global business cycles: convergence or decoupling?

Kose, M. Ayhan; Otrok, Christopher M.; Prasad, Eswar S. - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups: industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10010298739