dc.contributor.author | MUMTAZ, Haroon | |
dc.contributor.author | SIMONELL, Isaverio | |
dc.contributor.author | SURICO, Paolo | |
dc.date.accessioned | 2016-07-07T08:34:53Z | |
dc.date.available | 2016-07-07T08:34:53Z | |
dc.date.issued | 2009 | |
dc.identifier.citation | Review of economic dynamics, 2011, Vol. 14, No. 1, pp. 176–198 | |
dc.identifier.issn | 1094-2025 | |
dc.identifier.uri | https://hdl.handle.net/1814/42239 | |
dc.description.abstract | Using 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.iso | en | |
dc.relation.ispartof | Review of economic dynamics | |
dc.title | International comovements, business cycle and inflation : a historical perspective | |
dc.type | Article | |
dc.identifier.doi | 10.1016/j.red.2010.08.002 | |
dc.identifier.volume | 14 | |
dc.identifier.startpage | 176 | |
dc.identifier.endpage | 198 | |
eui.subscribe.skip | true | |
dc.identifier.issue | 1 | |