As the economic crisis becomes more intense, affecting regions' economic activities to different degrees, new issues have aroused regarding the ability of each region to respond positively to these changes by maintaining its performance at high levels. As a result, the notion of resilience, and...

Empirical studies find that fluctuations in output and other macroeconomic aggregates are positively related across countries. Economic theory focuses on two main explanations: common shocks and common transmission mechanisms. In this paper, we conduct an empirical analysis of the international...