SYNCHRONIZATION OF RECESSIONS IN MAJOR DEVELOPED AND EMERGING ECONOMIES

Pami Dua and Anirvan Banerji ()

No 182, Working papers from Centre for Development Economics, Delhi School of Economics

Abstract: This paper examines various measures of synchronization of recessions, including clustering of the onset of recession across economies, proportion of economies in expansion and the diffusion index of international coincident indexes, and shows that the recent global recession was possibly the most concerted in the post world war period. Factors that contributed to the synchronization and severity of the recession, such as trade and financial linkages and timing of policy actions, are analysed.

Pages: 29 pages
Date: 2009-09
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Related works:
Journal Article: Synchronisation of Recessions in Major Developed and Emerging Economies (2010)
Working Paper: Synchronization of Recessions in Major Developed and Emerging Economies (2010)
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