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, certain conditions are met to ensure the smooth functioning of a common currency. The fuel price synchronization is essential …
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, we also examine the determinants of business cycle synchronization for the countries in our sample. In contrast to … earlier studies which seek to account for such synchronization using gravity arguments as well as trade intensity and …
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Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...
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