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|c 5.00 USD
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|z 9781451863093
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|a 1018-5941
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|a Timmermann, Allan.
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|a Common Factors in Latin America's Business Cycles /
|c Allan Timmermann, Luis Catao, Marco Aiolfi.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2006.
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|a 1 online resource (64 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 constructs new business cycle indices for Argentina, Brazil, Chile, and Mexico based on common dynamic factors extracted from a comprehensive set of sectoral output, external data, and fiscal and financial variables spanning over a century. The constructed indices are used to derive a business cycle chronology for these countries and characterize a set of new stylized facts. In particular, we show that all four countries have historically displayed a striking combination of high business cycle and persistence relative to benchmark countries, and that such volatility has been time-varying, with important differences across policy regimes. We also uncover a sizeable common factor across the four economies which has greatly limited scope for regional risk sharing.
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|a Mode of access: Internet
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|a Aiolfi, Marco.
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|a Catao, Luis.
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|a IMF Working Papers; Working Paper ;
|v No. 2006/049
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2006/049/001.2006.issue-049-en.xml
|z IMF e-Library
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