The great synchronization of international trade collapse

Nikolaos Antonakakis

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    Abstract

    In this paper we examine the extent of international trade synchronization during periods of international trade collapses and US recessions. Using dynamic correlations based on monthly trade data for the G7 economies over the period 1961–2011, our results suggest rather idiosyncratic patterns of international trade synchronization during collapses of international trade and US recessions. During the great recession of 2007–2009, however, international trade experienced the most sudden, severe and globally synchronized collapse.
    Original languageEnglish
    Pages (from-to)608 - 614
    Number of pages7
    JournalEconomics Letters
    Volume117
    Issue number3
    DOIs
    Publication statusPublished - Dec 2012

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