The synchronization of GDP growth in the G7 during US recessions

Nikolaos Antonakakis, J. Scharler

    Research output: Contribution to journalArticlepeer-review


    Using the Dynamic Conditional Correlation (DCC) model due to Engle (2002), we estimate time-varying correlations of quarterly real GDP growth among the G7 countries. In general, we find that rather heterogeneous patterns of international synchronization exist during US recessions. During the 2007-2009 recession, however, international co-movement increased substantially.
    Original languageEnglish
    Pages (from-to)7-11
    Number of pages5
    JournalApplied Economics Letters
    Issue number1
    Publication statusPublished - Jan 2012


    • Dynamic conditional correlation
    • business cycle synchronization
    • recession


    Dive into the research topics of 'The synchronization of GDP growth in the G7 during US recessions'. Together they form a unique fingerprint.

    Cite this