The Increasing Synchronization of International Recessions

Anirvan Banerji () and Pami Dua
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Anirvan Banerji: Economic Cycle Research Institute

Chapter Chapter 13 in Macroeconometric Methods, 2023, pp 377-390 from Springer

Abstract: Abstract This paper examines various measures of synchronization of recessions, including clustering of the onset of and exit from recession across economies, the proportion of economies in expansion, and the diffusion index of international coincident indexes. It shows that the recent COVID recession and recovery were the most concerted in the post-world war period. Factors that contributed to the synchronization and severity of the recession, such as common shocks, trade and supply chain dynamics, and financial linkages, are analyzed.

Keywords: Global recession; COVID pandemic; Synchronization measures (search for similar items in EconPapers)
JEL-codes: E32 E37 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-7592-9_13

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DOI: 10.1007/978-981-19-7592-9_13

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