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| Author | : Mr.Eswar Prasad |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 1999-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1451857217 |
Download Identifying the Common Component in International Economic Fluctuations Book in PDF, ePub and Kindle
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 | : Robin L. Lumsdaine |
| Publisher | : |
| Total Pages | : 34 |
| Release | : 2002 |
| Genre | : |
| ISBN | : |
Download Identifying the Common Component of International Economic Fluctuations Book in PDF, ePub and Kindle
| Author | : Robin L. Lumsdaine |
| Publisher | : |
| Total Pages | : 52 |
| Release | : 1997 |
| Genre | : Business cycles |
| ISBN | : |
Download Identifying the Common Component in International Economic Fluctuations Book in PDF, ePub and Kindle
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 | : Robin L. Lumsdaine |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Identifying the Common Component in International Economic Fluctuations A New Approach Book in PDF, ePub and Kindle
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 quot;world business cyclequot; 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 | : Robin L. Lumsdaine |
| Publisher | : |
| Total Pages | : |
| Release | : 1997 |
| Genre | : |
| ISBN | : |
Download Identifying the Common Componenet in International Economic Fluctuations Book in PDF, ePub and Kindle
| Author | : Robin L. Lumsdaine |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 1999 |
| Genre | : Business cycles |
| ISBN | : |
Download Identifying the Common Component in International Economic Fluctuations Book in PDF, ePub and Kindle
| Author | : Jordi Galí |
| Publisher | : University of Chicago Press |
| Total Pages | : 663 |
| Release | : 2010-03-15 |
| Genre | : Business & Economics |
| ISBN | : 0226278875 |
Download International Dimensions of Monetary Policy Book in PDF, ePub and Kindle
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
| Author | : Eric Monnet |
| Publisher | : International Monetary Fund |
| Total Pages | : 55 |
| Release | : 2016-03-08 |
| Genre | : Business & Economics |
| ISBN | : 1513566431 |
Download Has Globalization Really Increased Business Cycle Synchronization? Book in PDF, ePub and Kindle
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.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 156 |
| Release | : 1997-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451957114 |
Download IMF Staff papers Book in PDF, ePub and Kindle
This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues.
| Author | : Filippo Di Mauro |
| Publisher | : Cambridge University Press |
| Total Pages | : 202 |
| Release | : 2007-04-26 |
| Genre | : Business & Economics |
| ISBN | : 1139464361 |
Download The External Dimension of the Euro Area Book in PDF, ePub and Kindle
Although still relatively closed, the Euro area economy is nevertheless subject to a broad range of economic impacts originating from outside its borders. This book aims to improve our understanding of how, and to what extent, such external developments affect the Euro area. Using a broad range of methodologies and techniques, the chapters analyse the various channels that connect the Euro area to its external environment; most notably trade, capital flows and other international macroeconomic linkages. The result is that the interaction between the Euro area and its 'external dimension' is shown to be more complex and extensive than had previously been thought. With contributions from both academics and professionals, this volume will be an invaluable source of information for researchers and policy-makers concerned with the interaction between regional European integration and globalization.
