Global Business Cycles: Degree of Synchronization in the Current Downturn Is Unprecedented

Artikel

Empirical data analysis shows that the business cycles of industrialized nations demonstrate a fairly strong degree of synchronization in periods of growth, and a lesser degree of synchronization during periods of contraction. The current recession, however, breaks this pattern: the business cycles of industrialized nations have exhibited an unprecedented degree of synchronization since the start of the crisis. In the worst economic downturn since the end of the Second World War, the most important national economies have been drawn one after another into the maelstrom of global recession. In this paper we present a method for measuring business-cycle synchronization between individual countries. In our comparison of the current crisis with previous recessions, a focus is placed on the G7 nations and Germany's most important trading partners.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Weekly Report ; ISSN: 1860-3343 ; Volume: 5 ; Year: 2009 ; Issue: 27 ; Pages: 188-192 ; Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Business Fluctuations; Cycles ; Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
• Thema: Business cycle synchronisation ; Markov switching models

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kuzin, Vladimir ; Hillebrand, Martin
• Ereignis: Veröffentlichung
• (wer): Deutsches Institut für Wirtschaftsforschung (DIW)
• (wo): Berlin
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/151066
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ