Global business cycles : convergence or decoupling? / M. Ayhan Kose, Christopher Otrok, and Eswar S. Prasad.
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroe...
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