Business cycle synchronization during US recessions since the beginning of the 1870s

Economics Letters

Volumn 117, Issue 2, 2012, Pages 467-472

  Antonakakis, Nikolaos ^a  

^a VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS   (Austria)

Author keywords

Business cycles synchronization; Dynamic conditional correlation; Globalization; Recession

Indexed keywords

EID: 84864064219     PISSN: 01651765     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.econlet.2012.06.034     Document Type: Article

References (17)

1. Antonakakis N., Scharler J. The synchronization of GDP growth in the G7 during US recessions. Applied Economics Letters 2012, 19(1):7-11.
2. Artis M., Chouliarakis G., Harischandra P.K.G. Business cycle synchronization since 1880. Manchester School 2011, 79(2):173-207.
3. Ayhan Kose M., Otrok C., Whiteman C.H. Understanding the evolution of world business cycles. Journal of International Economics 2008, 75(1):110-130.
4. Ayhan Kose M., Prasad E.S., Terrones M.E. How does globalization affect the synchronization of business cycles?. American Economic Review 2003, 93(2):57-62.
5. Claessens S., Kose M.A., Terrones M.E. What happens during recessions, crunches and busts?. Economic Policy 2009, 24:653-700.
6. Crucini M., Kose A., Otrok C. What are the driving forces of international business cycles?. Review of Economic Dynamics 2011, 14(1):156-175.
7. Doyle B.M., Faust J. Breaks in the variability and comovement of G-7 economic growth. The Review of Economics and Statistics 2005, 87(4):721-740.
8. Engle R. Dynamic conditional correlation: a simple class of multivariate generalized autoregressive conditional heteroskedasticity models. Journal of Business & Economic Statistics 2002, 20(3):339-350.
9. Hosking J. The multivariate portmanteau statistic. Journal of the American Statistical Association 1980, 75(75):602-608.
10. Imbs J. Trade, finance, specialization, and synchronization. The Review of Economics and Statistics 2004, 86(3):723-734.
11. Imbs J. The first global recession in decades. IMF Economic Review 2010, 58(2):327-354.
12. Li W., McLeod A. Distribution of the residual autocorrelation in multivariate ARMA time series models. Journal of the Royal Statistical Society 1981, 43:231-239.
13. Maddison A. The World Economy: Historical Statistics 2003, Organization of Economic Cooperation and Development, Paris.
14. Mendoza E.G., Quadrini V. Financial globalization, financial crises and contagion. Journal of Monetary Economics 2010, 57(1):24-39.
15. Otto, G., Voss, G., Willard, L., 2001. Understanding OECD Output Correlations. RBA Research Discussion Papers rdp2001-05, Reserve Bank of Australia.
16. Stock J.H., Watson M.W. Understanding changes in international business cycle dynamics. Journal of the European Economic Association 2005, 3(5):968-1006.
17. Yetman J. Exporting recessions: international links and the business cycle. Economics Letters 2011, 110(1):12-14.