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|c 5.00 USD
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|z 9781451857214
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|a 1018-5941
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|a Lumsdaine, Robin.
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|a Identifying the Common Component in International Economic Fluctuations :
|b A New Approach /
|c Robin Lumsdaine, Eswar Prasad.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (38 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper develops an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows for a unified treatment of cyclical and seasonal fluctuations and also captures the dynamic propagation of shocks across countries. Correlations of individual country fluctuations with the common component provide evidence of a 'world business cycle' and a distinct European common component. The results suggest that macroeconomic fluctuations have become more closely linked across industrial economies in the post-Bretton Woods period.
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|a Mode of access: Internet
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|a Prasad, Eswar.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/154
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/154/001.1999.issue-154-en.xml
|z IMF e-Library
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