| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2251 |
| DP2251 Insider Trading, Investment and Liquidity | |
| Sudipto Bhattacharya; Giovanna Nicodano | |
| 发表日期 | 1999-10-29 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper provides novel evidence on the determinants of the synchronization in business cycles. I find trade has surprisingly small quantitative effects. On the other hand, pairs of countries with higher aggregate income level experience significantly more synchronized business cycles, and this happens largely because they have similar sectoral production patterns. Geographic considerations do not matter systematically. The results hold for a large sample of countries with very different income levels, as well as within the OECD. They are robust to different filtering devices, across yearly and quarterly frequency and for a variety of data sources. These findings are interpreted in a model where international income disparities correspond to differences in production patterns, and thus to different degrees of exposure to common sectoral stochastic developments. |
| 主题 | International Macroeconomics |
| 关键词 | International business cycles Sectoral shocks Trade |
| URL | https://cepr.org/publications/dp2251 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531349 |
| 推荐引用方式 GB/T 7714 | Sudipto Bhattacharya,Giovanna Nicodano. DP2251 Insider Trading, Investment and Liquidity. 1999. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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