Business Cycle Synchronization During US Recessions Since the
Beginning of the 1870's

Nikolaos Antonakakis

doi:10.57938/c25ce0da-9db8-459a-a792-122e2a590eba

Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's

Nikolaos Antonakakis

Department of Economics

Publication: Working/Discussion Paper › WU Working Paper and Case

73 Downloads (Pure)

Abstract

This paper examines the synchronization of business cycles across the G7 countries during
US recessions since the 1870's. Using a dynamic measure of business cycle synchronization,
results depend on the globalisation period under consideration. On average, US recessions
have significantly positive effects on business cycle co-movements only in the period following
the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 economies are documented during recessions that occurred under
the classical Gold Standard. During the 2007-2009 recession, business cycles co-movements
increased to unprecedented levels.

Original language	English
Place of Publication	Vienna
Publisher	WU Vienna University of Economics and Business
DOIs	https://doi.org/10.57938/c25ce0da-9db8-459a-a792-122e2a590eba
Publication status	Published - 1 Apr 2012

Publication series

Series	Department of Economics Working Paper Series
Number	140

Bibliographical note

Earlier version

WU Working Papes and Cases

Department of Economics Working Paper Series

Access to Document

10.57938/c25ce0da-9db8-459a-a792-122e2a590ebaLicence: Unspecified

Wp140Final published version, 506 KBLicence: Unspecified

Cite this

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