All economies experience peaks and troughs in their business cycles. This paper examines eight East Asian economies, employing a Bayesian dynamic factor model that allows the decomposition of aggregate shocks into country-specific, regional and world common business cycles. It therefore allows...

The analysis of business cycle synchronization levels has become a key point in the discussion of the processes of international economic integration. Economists show a particular interest in analyzing the frequency of processes of business cycle convergence and divergence (decoupling) in the...