Common Factors in Latin America's Business Cycles /

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 bus...

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Bibliografiske detaljer
Hovedforfatter: Timmermann, Allan
Andre forfattere: Aiolfi, Marco, Catao, Luis
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2006.
Serier:IMF Working Papers; Working Paper ; No. 2006/049
Online adgang:Full text available on IMF
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100 1 |a Timmermann, Allan. 
245 1 0 |a Common Factors in Latin America's Business Cycles /  |c Allan Timmermann, Luis Catao, Marco Aiolfi. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2006. 
300 |a 1 online resource (64 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |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. 
538 |a Mode of access: Internet 
700 1 |a Aiolfi, Marco. 
700 1 |a Catao, Luis. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/049 
856 4 0 |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