Does International Trade Really Lead to Business Cycle Synchronization?-A panel data approach
Michael Artis and
Toshihiro Okubo ()
No DP2011-05, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University
This paper re-estimates the correlation between trade and business cycle synchronization. Different from other previous studies, we employ long-run GDP and trade data and use the GDP cross-correlation index a la Cerqueira and Martins (2009) rather than over-time cross-correlations. We find a positive impact of trade on business cycle synchronization particularly in the current wave of globalization, although the inter-war period sees negative impacts. The current economic integration and currency unions also positively affect business cycle synchronization.
Keywords: Business cycle synchronization; Trade; Panel approach (search for similar items in EconPapers)
JEL-codes: E32 F15 F43 F55 (search for similar items in EconPapers)
Pages: 17 pages
New Economics Papers: this item is included in nep-bec, nep-int, nep-mac and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Journal Article: DOES INTERNATIONAL TRADE REALLY LEAD TO BUSINESS CYCLE SYNCHRONIZATION?—A PANEL DATA APPROACH (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:dp2011-05
Access Statistics for this paper
More papers in Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University 2-1 Rokkodai, Nada, Kobe 657-8501 JAPAN. Contact information at EDIRC.
Bibliographic data for series maintained by Office of Promoting Research Collaboration, Research Institute for Economics & Business Administration, Kobe University ().