Institutions and business cycles

Arbeitspapier

This paper investigates the relationship between the main business cycles features and the institutional and structural characteristics of countries in which they are observed. We derive the business cycle characteristics of the individual countries using the nonparametric Harding-Pagan approach. Our sample is comprised of 63 countries that includes industrial, emerging and formerly centrally planned economies from all continents. We correlate these characteristics with a wide range of macroeconomic, structural and institutional factors that have been hypothesized to affect macroeconomic outcomes. In our analysis, we also examine the determinants of business cycle synchronization for the countries in our sample. In contrast to earlier studies which seek to account for such synchronization using gravity arguments as well as trade intensity and bilateral financial linkages, we also consider the proximity of their institutional and policy environments.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 1109

Classification and Topics

• Classification: Wirtschaft ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models ; Business Fluctuations; Cycles ; Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
• Subject: institutions ; business cycles ; synchronization ; nonparametric analysis ; Konjunkturzusammenhang ; Institutionelle Infrastruktur ; Nichtparametrisches Verfahren ; Welt

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Altug, Sumru ; Emin, Mustafa ; Neyapti, Bilin
• Event: Veröffentlichung
• (who): Koç University-TÜSİAD Economic Research Forum (ERF)
• (where): Istanbul
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/45407
• Last update: 10.03.2025, 11:44 AM CET