Linkages of International Business Cycle: An Euclidean Distance-Based Network Approach

Zeeshan Nezami Ansari (), Md Mustafa () and Rajendra Narayan Paramanik ()
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Zeeshan Nezami Ansari: Department of Economics, GITAM (Deemed to be University) Bengaluru, Bengaluru, Karnataka, India
Md Mustafa: DOP-Knowledge Services, Wipro Technologies Limited, Gurugram, Haryana, India
Rajendra Narayan Paramanik: Department of Humanities and Social Sciences, Indian Institute of Technology Patna, Patna, Bihar, India

Economic Research Guardian, 2024, vol. 14, issue 2, 163-175

Abstract: This paper studies the International Business Cycle synchronisation of 28 OECD countries with quarterly data from 2000 to 2021. Both phase co-movement as well as amplitude similarity are examined through Concordance index and Euclidean distance-based network graphs, respectively. The result indicates that phase co-movements are synchronised with each other throughout whole time span, but during crisis periods, there is more synchronisation than in periods of normalcy. Further, amplitude similarity is observed to dip over two subsequent normal periods, but it remains high during the crises.

Keywords: Business Cycle; Crisis; OECD countries; Euclidean Distance; Network (search for similar items in EconPapers)
JEL-codes: C45 E32 G01 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:wei:journl:v:14:y:2024:i:2:p:163-175

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