This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870s. Using a dynamic measure of correlations, results depend on the globalization period under consideration. During the 2007–2009 recession, business cycles co-movements increased to unprecedented levels.
|Pages (from-to)||467 - 472|
|Number of pages||6|
|Publication status||Published - Nov 2012|