Trade Intensity And Business Cycle Synchronization

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Trade Integration And Business Cycle Synchronization

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Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-03

Trade Integration And Business Cycle Synchronization written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-03 with Business & Economics categories.

This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to increase co-movement, indicating that not only the intensity but also the type of trade matters. Finally, we show that dependence on Chinese final demand in value-added terms amplifies the international spillovers and synchronizing impact of growth shocks in China.

Business Cycle Synchronization And Regional Integration

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Author : Norbert Fiess
language : en
Publisher: World Bank Publications
Release Date : 2005

Business Cycle Synchronization And Regional Integration written by Norbert Fiess and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business Cycle categories.

Abstract: In early January 2003, the United States and Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua launched official negotiations for the Central American Free Trade Agreement (CAFTA), a treaty that would expand NAFTA-style trade barrier reductions to Central America. With deeper trade integration between Central America and the United States, it is expected that there will be closer links in business cycles between Central American countries and the United States. The paper finds a relatively low degree of business cycle synchronization within Central America as well as between Central America and the United States. The business cycle synchronization is expected to increase only modestly with further trade expansion, making the coordination of macroeconomic policies within CAFTA somewhat less of a priority.

Trade Intensity And Business Cycle Synchronization

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Author : Pradumna Rana
language : en
Publisher:
Release Date : 2010

Trade Intensity And Business Cycle Synchronization written by Pradumna Rana and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

This paper examines whether increasing trade intensities among East Asian countries have led to a synchronization of business cycles. It extends the work of Shin and Wang (2004) in two ways: by improving the specification of their business cycle correlation equation and by extending the sample to cover the post-crisis period. The study finds that intra-industry trade, rather than inter-industry trade, is the major factor in explaining business cycle co-movements in East Asia. This result has important implications for the prospects of introducing a single currency in the region.

Effects Of Bilateral Trade Intensity And Economic Development On Business Cycle Synchronization

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Author : Tomas Rinkunas
language : en
Publisher:
Release Date : 2007

Effects Of Bilateral Trade Intensity And Economic Development On Business Cycle Synchronization written by Tomas Rinkunas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.

The economists in their research have documented that the economic activity of some economies are booming and falling into recession at roughly the same time while others are booming and recessing at completely different times. However, one could go even further and determine what kind of factors will lead to business cycle synchronization.

Trade Integration And Business Cycle Synchronization In Europe

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Author : Kwan-ho Sin
language : en
Publisher:
Release Date : 2003

Trade Integration And Business Cycle Synchronization In Europe written by Kwan-ho Sin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business cycles categories.

Trade Intensity And Business Cycle Synchronization

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Author : César Calderón
language : en
Publisher:
Release Date : 2002

Trade Intensity And Business Cycle Synchronization written by César Calderón and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business cycles categories.

Business Cycle Synchronization And Vertical Trade Integration

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Author : Sŏng-hyŏn Kim
language : en
Publisher:
Release Date : 2014

Business Cycle Synchronization And Vertical Trade Integration written by Sŏng-hyŏn Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

Trade Finance Specialization And Synchronization

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Author : Mr.Jean Imbs
language : en
Publisher: International Monetary Fund
Release Date : 2003-04-01

Trade Finance Specialization And Synchronization written by Mr.Jean Imbs and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-04-01 with Business & Economics categories.

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial assets, specialization and business cycles synchronization using a system of simultaneous equations. The results are as follows: (i) Simultaneity is important, as both trade and financial openness have a direct and an indirect effect on cycle synchronization. (ii) A variety of alternative measures of financial integration suggest that regions with strong financial links are significantly more synchronized, though they are also more specialized. (iii) Specialization patterns have a sizable effect on business cycles, beyond their reflection of intra-industry trade, and of openness to goods and assets trade. (iv) The estimated role of trade is in line with existing models once intra-industry trade is controlled for. The results relate to a recent strand of international business cycle models with incomplete markets and transport costs, and, on the empirical side, point to an important omission in the usual criteria defining an optimal currency area, namely specialization patterns.

Trade Integration And Business Cycle Synchronization In East Asia

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Author : Kwanho Shin
language : en
Publisher:
Release Date : 2003

Trade Integration And Business Cycle Synchronization In East Asia written by Kwanho Shin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business cycles categories.

How Much Does International Trade Affect Business Cycle Synchronization

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Author : William C. Gruben
language : en
Publisher:
Release Date : 2002

How Much Does International Trade Affect Business Cycle Synchronization written by William C. Gruben and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business cycles categories.