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Globalization, the Business Cycle, and Macroeconomic Monitoring

2011-02-01 Business & Economics
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Release : 2011-02-01
Genre : Business & Economics
Kind : eBook
Book Rating : 720/5 ( reviews)

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Book Synopsis Globalization, the Business Cycle, and Macroeconomic Monitoring by : Mr.Marco Terrones

Download or read book Globalization, the Business Cycle, and Macroeconomic Monitoring written by Mr.Marco Terrones. This book was released on 2011-02-01. 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.

Globalization, the business cycle, and macroeconomic monitoring

2010 Business cycles
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Release : 2010
Genre : Business cycles
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Globalization, the business cycle, and macroeconomic monitoring by :

Download or read book Globalization, the business cycle, and macroeconomic monitoring written by . This book was released on 2010. 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 -- National Bureau of Economic Research web site.

How Does Globalization Affect the Synchronization of Business Cycles?

2003-03-04 Business & Economics
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Release : 2003-03-04
Genre : Business & Economics
Kind : eBook
Book Rating : 549/5 ( reviews)

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Book Synopsis How Does Globalization Affect the Synchronization of Business Cycles? by : Mr.Ayhan Kose

Download or read book How Does Globalization Affect the Synchronization of Business Cycles? written by Mr.Ayhan Kose. This book was released on 2003-03-04. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is stronger for industrial countries. One striking result is that, on average, cross-country consumption correlations have not increased in the 1990s, precisely when financial integration would have been expected to result in better risk-sharing opportunities, especially for developing countries.

Has Globalization Really Increased Business Cycle Synchronization?

2016-03-08 Business & Economics
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Release : 2016-03-08
Genre : Business & Economics
Kind : eBook
Book Rating : 431/5 ( reviews)

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Book Synopsis Has Globalization Really Increased Business Cycle Synchronization? by : Eric Monnet

Download or read book Has Globalization Really Increased Business Cycle Synchronization? written by Eric Monnet. This book was released on 2016-03-08. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the strength of business cycle synchronization between 1950 and 2014 in a sample of 21 countries using a new quarterly dataset based on IMF archival data. Contrary to the common wisdom, we find that the globalization period is not associated with more output synchronization at the global level. The world business cycle was as strong during Bretton Woods (1950-1971) than during the Globalization period (1984-2006). Although globalization did not affect the average level of co-movement, trade and financial integration strongly affect the way countries co-move with the rest of the world. We find that financial integration de-synchronizes national outputs from the world cycle, although the magnitude of this effect depends crucially on the type of shocks hitting the world economy. This de-synchronizing effect has offset the synchronizing impact of other forces, such as increased trade integration.

Business Cycles in BRICS

2018-08-15 Business & Economics
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Release : 2018-08-15
Genre : Business & Economics
Kind : eBook
Book Rating : 17X/5 ( reviews)

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Book Synopsis Business Cycles in BRICS by : Sergey Smirnov

Download or read book Business Cycles in BRICS written by Sergey Smirnov. This book was released on 2018-08-15. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the analysis and measurement of business cycles in Brazil, Russia, India, China and South Africa (BRICS). Divided into five parts, it begins with an overview of the main concepts and problems involved in monitoring and forecasting business cycles. Then it highlights the role of BRICS in the global economy and explores the interrelatedness of business cycles within BRICS. In turn, part two provides studies on the historical development of business cycles in the individual BRICS countries and describes the driving forces behind those cycles. Parts three and four present national business tendency surveys and composite cyclical indices for real-time monitoring and forecasting of various BRICS economies, while the final part discusses how the lessons learned in the BRICS countries can be used for the analysis of business cycles and their socio-political consequences in other emerging countries.

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