This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870s. Using a dynamic measure of correlations, results depend on the globalization period under consideration. During the 2007--2009 recession, business cycles co-movements increased to unprecedented levels.
|Pages (from-to)||467 - 472|
|Publication status||Published - 1 Aug 2012|
Austrian Classification of Fields of Science and Technology (ÖFOS)
- 502018 Macroeconomics