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Author : Marco Centoni
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (249 download)
Download or read book Common Shocks, Common Dynamics and the International Business Cycle written by Marco Centoni and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marco Centoni
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)
Download or read book Common Shocks, Common Dynamics and the International Business Cycle written by Marco Centoni and published by . This book was released on 2006 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes an econometric framework to assess the importance of common shocks and common transmission mechanisms ingenerating international business cycles. Then we show how to decompose the cyclical effects of permanent-transitory shocks into those due to their domestic and those due to foreign components. Our empirical analysis reveals that the business cycles of the US,Japan,Canada are clearly dominated by their domestic components. The Euro area is more sensitive to foreign shocks compared to the other three countries of our analysis.
Author : Marco Centoni
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (249 download)
Download or read book Common Shocks, Common Dynamics and the International Business Cycle written by Marco Centoni and published by . This book was released on 2003 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Stefania Fabrizio
Publisher : International Monetary Fund
ISBN 13 : 1451852932
Total Pages : 22 pages
Book Rating : 4.4/5 (518 download)
Download or read book Domestic, Foreign or Common Shocks? written by Ms.Stefania Fabrizio and published by International Monetary Fund. This book was released on 1996-09-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stochastic general equilibrium model of the world economy is used to analyze the origin of international business cycles using data for Germany, Japan and the United States. The findings indicate that after 1973, common shocks play a major role in accounting for similarities in output fluctuations. However, trade interdependencies with the United States may have also played a very important role; more than 20 percent of output fluctuations of the German and Japanese economies could have been imported from the United States.
Author : James H. Stock
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (249 download)
Download or read book Understanding Changes in International Business Cycle Dynamics written by James H. Stock and published by . This book was released on 2003 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volatility of economic activity in most G7 economies has moderated over the past forty years. Also, despite large increases in trade and openness, G7 business cycles have not become more synchronized. After documenting these twin facts, we interpret G7 output data using a structural VAR that separately identifies common international shocks, the domestic effects of spillovers from foreign idiosyncratic shocks, and the effects of domestic idiosyncratic shocks. This analysis suggests that, with the exception of Japan, the widespread reduction in volatility is in large part associated with a reduction in the magnitude of the common international shocks. Had the common international shocks in the 1980s and 1990s been as large as they were in the 1960s and 1970s, G7 business cycles would have been substantially more volatile and more highly synchronized than they actually were
Author : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.X/5 (2 download)
Download or read book Sources and Propagation of International Business Cycles written by Fabio Canova and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451857217
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)
Download or read book Identifying the Common Component in International Economic Fluctuations written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1999-11-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows for a unified treatment of cyclical and seasonal fluctuations and also captures the dynamic propagation of shocks across countries. Correlations of individual country fluctuations with the common component provide evidence of a “world business cycle” and a distinct European common component. The results suggest that macroeconomic fluctuations have become more closely linked across industrial economies in the post–Bretton Woods period.
Author : Mr. Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 145189452X
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)
Download or read book International Trade and the Business Cycle written by Mr. Eswar Prasad and published by International Monetary Fund. This book was released on 1999-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by different shocks and attempts to reconcile these results with unconditional correlations found in the data. The results suggest that, in the post-Bretton Woods period, nominal shocks have been an important determinant of the forecast error variance for fluctuations in the trade balances of the Group of Seven countries.
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : S. Fabrizio
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (129 download)
Download or read book Domestic, Foreign or Common Shocks? written by S. Fabrizio and published by . This book was released on 2006 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stochastic general equilibrium model of the world economy is used to analyze the origin of international business cycles using data for Germany, Japan and the United States. The findings indicate that after 1973, common shocks play a major role in accounting for similarities in output fluctuations. However, trade interdependencies with the United States may have also played a very important role; more than 20 percent of output fluctuations of the German and Japanese economies could have been imported from the United States.
Author : Andrea Raffo
Publisher : DIANE Publishing
ISBN 13 : 1437939104
Total Pages : 55 pages
Book Rating : 4.4/5 (379 download)
Download or read book Technology Shocks written by Andrea Raffo and published by DIANE Publishing. This book was released on 2010 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the joint dynamics of internat. prices and quantities remains a central issue in internat. bus. cycles. Internat. relative prices appreciate when domestic consumption and output increase more than their foreign counterparts. In addition, both trade flows and trade prices display sizable volatility. This paper incorporates Hicks-neutral and investment-specific TS into a standard two-country general equilibrium model with variable capacity utilization and weak wealth effects on labor supply. Investment-specific TS introduce a source of fluctuations in absorption similar to taste shocks, thus reconciling theory and data. Also presents implications for the transmission mechanism of TS across countries. Illus. This is a print on demand pub.
Author : Giuseppe Orlando
Publisher : Springer Nature
ISBN 13 : 3030709825
Total Pages : 361 pages
Book Rating : 4.0/5 (37 download)
Download or read book Nonlinearities in Economics written by Giuseppe Orlando and published by Springer Nature. This book was released on 2021-08-31 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work is formal-methodological and provides the mathematical background needed for the remainder, while the second part presents the view that signal processing involves construction and deconstruction of information and that the efficacy of this process can be measured. The third part focuses on economics and provides the related background and literature on economic dynamics and the fourth part is devoted to new perspectives in understanding nonlinearities in economic dynamics: growth and cycles. By pursuing this approach, the book seeks to (1) determine whether, and if so where, common features exist, (2) discover some hidden features of economic dynamics, and (3) highlight specific indicators of structural changes in time series. Accordingly, it is a must read for everyone interested in a better understanding of economic dynamics, business cycles, econometrics and complex systems, as well as non-linear dynamics and chaos theory.
Author :
Publisher : Routledge
ISBN 13 : 1135979677
Total Pages : 783 pages
Book Rating : 4.1/5 (359 download)
Download or read book International Economics written by and published by Routledge. This book was released on with total page 783 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Marco Terrones
Publisher : International Monetary Fund
ISBN 13 : 1455216720
Total Pages : 54 pages
Book Rating : 4.4/5 (552 download)
Download or read book Globalization, the Business Cycle, and Macroeconomic Monitoring written by Mr.Marco Terrones and published by International Monetary Fund. This book was released on 2011-02-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as data are released and revisions become available. We apply the framework to the G-7 countries and study various aspects of national and global business cycles, obtaining three main results. First, our measure of the global business cycle, the common G-7 real activity factor, explains a significant amount of cross-country variation and tracks the major global cyclical events of the past forty years. Second, the common G-7 factor and the idiosyncratic country factors play different roles at different times in shaping national economic activity. Finally, the degree of G-7 business cycle synchronization among country factors has changed over time.
Author : Robin L. Lumsdaine
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)
Download or read book Identifying the Common Component in International Economic Fluctuations written by Robin L. Lumsdaine and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we develop an aggregation procedure using time-varying weights for constructing the common component in international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows for a unified treatment of cyclical and seasonal fluctuations and also captures the dynamic propagation of shocks across countries. Based on correlations of individual country fluctuations with the common component, we find evidence for a `world business cycle' as well as evidence for a distinct European common component. We find few systematic differences in international business cycle relationships between the Bretton Woods and post-Bretton Woods periods.
Author : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451847688
Total Pages : 26 pages
Book Rating : 4.4/5 (518 download)
Download or read book International Trade and the Business Cycle written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1999-04-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by different shocks and attempts to reconcile these results with unconditional correlations found in the data. The results suggest that, in the post-Bretton Woods period, nominal shocks have been an important determinant of the forecast error variance for fluctuations in the trade balances of the Group of Seven countries.
Author : Hamid Reza Davoodi
Publisher :
ISBN 13 :
Total Pages : 258 pages
Book Rating : 4.:/5 (89 download)
Download or read book Empirical Evidence on International Business Cycles written by Hamid Reza Davoodi and published by . This book was released on 1995 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
