Is Decoupling in Action?

Antonio Pesce

Chapter Chapter 3 in Economic Cycles in Emerging and Advanced Countries, 2015, pp 51-111 from Springer

Abstract: Abstract As explained in Chap. 2 , the decoupling hypothesis essentially refers to changes in the degree of business cycle interdependence between the two groups of economies (EEs and AEs). It implies two main consequences that should be empirically observable: (1) a decreasing comovement of economic cycles between AEs and EEs over time, (2) an increasing resilience of the EEs to adverse scenarios in AEs. These two points were studied in this chapter by using two different tools: the Euclidean Distance Indicator and the Time-Varying Panel VAR Econometric Model.

Keywords: Adverse Scenarios; National Economic Cycles; Posterior Credible Intervals; Marginal Likelihood Estimator; Country-specific Component (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-3-319-17085-5_3

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