Measuring the Dynamics of Global Business Cycle Connectedness
Francis Diebold and
Kamil Yilmaz ()
PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania
Abstract:
Using a connectedness-measurement technology fundamentally grounded in modern network theory, we measure real output connectedness for a set of six developed countries, 1962-2010. We show that global connectedness is sizable and time-varying over the business cycle, and we study the nature of the time variation relative to the ongoing discussion about the changing nature of the global business cycle. We also show that connectedness corresponding to transmissions to others from the United States and Japan is disproportionately important.
Keywords: Synchronization; coupling; de-coupling; network; G-7; real activity; industrial production; globalization (search for similar items in EconPapers)
JEL-codes: E01 F42 F44 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2013-12-17
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)
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Persistent link: https://EconPapers.repec.org/RePEc:pen:papers:13-070
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