Working Papers in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
Volatility and Comovement in a Globalized World Economy: An Empirical Exploration
|
Author/Editor: |
Kose, M. Ayhan | Prasad, Eswar | Terrones, Marco |
| Authorized for Distribution: |
December 1, 2003 |
|
Electronic Access: |
Free Full Text (PDF file size is 1,164KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
|
|
Summary: This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment fluctuations using two distinct datasets. The results suggest that there has been a significant decline in the volatility of business cycle fluctuations and a slight increase in the degree of cyclical comovement among industrialized countries over time. However, for emerging market economies, financial globalization appears to have been associated, on average, with an increase in macroeconomic volatility as well as declines in the degree of comovement of output and consumption growth with their corresponding world aggregates.
|
|
|
|
Order a print copy
|
|
Series: |
Working Paper No. 03/246 |
|
Subject(s): |
Business cycles | Globalization |
|
Author's keyword(s): |
Business cycles
| macroeconomic fluctuations
| volatility
| correlations
| globalization
|
|
|
|
|
| |
Published: |
|
December 1, 2003 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA2462003 |
|
Pages: |
|
37 |
| |
Price: |
|
US$15.00 (Academic Rate: US$15.00 )
|
|
|
|
|
|
|
