Globalization, the Business Cycle, and Macroeconomic Monitoring:
We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as data a...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 11/25 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as data are released and revisions become available. We apply the framework to the G-7 countries and study various aspects of national and global business cycles, obtaining three main results. First, our measure of the global business cycle, the common G-7 real activity factor, explains a significant amount of cross-country variation and tracks the major global cyclical events of the past forty years. Second, the common G-7 factor and the idiosyncratic country factors play different roles at different times in shaping national economic activity. Finally, the degree of G-7 business cycle synchronization among country factors has changed over time |
| Beschreibung: | 1 Online-Ressource (52 p) |
| ISBN: | 1455216720 9781455216727 |
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| index_date | 2024-07-03T20:13:28Z |
| indexdate | 2024-07-10T09:35:36Z |
| institution | BVB |
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| language | English |
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| series2 | IMF Working Papers |
| spelling | Aruoba, S. Boragan Verfasser aut Globalization, the Business Cycle, and Macroeconomic Monitoring Aruoba, S. Boragan Washington, D.C International Monetary Fund 2011 1 Online-Ressource (52 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/25 We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as data are released and revisions become available. We apply the framework to the G-7 countries and study various aspects of national and global business cycles, obtaining three main results. First, our measure of the global business cycle, the common G-7 real activity factor, explains a significant amount of cross-country variation and tracks the major global cyclical events of the past forty years. Second, the common G-7 factor and the idiosyncratic country factors play different roles at different times in shaping national economic activity. Finally, the degree of G-7 business cycle synchronization among country factors has changed over time Online-Ausg Diebold, Francis X. Sonstige oth Kose, M. Ayhan Sonstige oth Terrones, Marco Sonstige oth http://elibrary.imf.org/view/IMF001/11627-9781455216727/11627-9781455216727/11627-9781455216727.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Aruoba, S. Boragan Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title | Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title_auth | Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title_exact_search | Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title_exact_search_txtP | Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title_full | Globalization, the Business Cycle, and Macroeconomic Monitoring Aruoba, S. Boragan |
| title_fullStr | Globalization, the Business Cycle, and Macroeconomic Monitoring Aruoba, S. Boragan |
| title_full_unstemmed | Globalization, the Business Cycle, and Macroeconomic Monitoring Aruoba, S. Boragan |
| title_short | Globalization, the Business Cycle, and Macroeconomic Monitoring |
| title_sort | globalization the business cycle and macroeconomic monitoring |
| url | http://elibrary.imf.org/view/IMF001/11627-9781455216727/11627-9781455216727/11627-9781455216727.xml |
| work_keys_str_mv | AT aruobasboragan globalizationthebusinesscycleandmacroeconomicmonitoring AT dieboldfrancisx globalizationthebusinesscycleandmacroeconomicmonitoring AT kosemayhan globalizationthebusinesscycleandmacroeconomicmonitoring AT terronesmarco globalizationthebusinesscycleandmacroeconomicmonitoring |