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dc.contributor.authorMUMTAZ, Haroon
dc.contributor.authorSIMONELL, Isaverio
dc.contributor.authorSURICO, Paolo
dc.date.accessioned2016-07-07T08:34:53Z
dc.date.available2016-07-07T08:34:53Z
dc.date.issued2009
dc.identifier.citationReview of economic dynamics, 2011, Vol. 14, No. 1, pp. 176–198
dc.identifier.issn1094-2025
dc.identifier.urihttps://hdl.handle.net/1814/42239
dc.description.abstractUsing a dynamic factor model, we uncover four main empirical regularities on international comovements in a long-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased over the post-WWII period. The contribution of regional comovements, however, has increased significantly. Second, the share of inflation variation due to a global factor has become larger since 1985. Third, over most of the post-WWII period, international comovements within regions have accounted for the bulk of fluctuations in business cycle and inflation. Fourth, prices have become significantly less countercyclical during the post-1984 sample, with the largest contribution due to external developments.
dc.language.isoen
dc.relation.ispartofReview of economic dynamics
dc.titleInternational comovements, business cycle and inflation : a historical perspective
dc.typeArticle
dc.identifier.doi10.1016/j.red.2010.08.002
dc.identifier.volume14
dc.identifier.startpage176
dc.identifier.endpage198
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dc.identifier.issue1


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