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http://hdl.handle.net/2192/76
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Title: | Common Shocks, Common Dynamics, and the International Business Cycle |
Authors: | Centoni, Marco Cubadda, Gianluca Hecq, Alain |
Keywords: | Common Cycles Cointegration Domestic-Foreign Shocks International Business Cycles Permanent-Transitory Decomposition. |
Issue Date: | 4-Jul-2003 |
Abstract: | This paper develops an econometric framework to understand whether co-movements observed
in the international business cycle are the consequences of common shocks or common
transmission mechanisms. Then we propose a new statistical measure of the importance of
domestic and foreign shocks over the national business cycle. We show how to decompose
the business cycle effects of permanent-transitory shocks into those due to their domestic
and foreign components. We apply our analysis to G7 outputs. ...more |
URI: | http://hdl.handle.net/2192/76 |
Appears in Collections: | 4 - REPEC Econpapers
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