Cycle Synchronization

Currency Union, Free Trade Areas, and Business Cycle Synchronization

JEL codes: 
C12, C13, C14, C15, C32, E32, F15
Version Date: 
Mar 2010
Author/s: 
Abstract: 

Since the 1970s the characteristics of international business cycles have changed and deeper economic integration has modified the features of cross-country comovement. We formally test for correlation shifts in measures of real economic activity and economic/financial integration.

Report file: 
PDF icon Download the paper (763.69 KB)

Currency Union, Free-Trade Areas, and Business Cycle Synchronization

JEL codes: 
C12, C13, C14, C15, C32, E32, F15
Version Date: 
Mar 2011
Author/s: 
Abstract: 

Since the 1970s the characteristics of international business cycles have changed and deeper economic integration has modified the features of cross-country comovement. We formally test for correlation shifts in measures of real economic activity and economic/financial integration.

Report file: 
PDF icon Download the paper (737.37 KB)