Bank of Finland paper examines reasons for business cycle co-movement
A discussion paper, published by the Bank of Finland today (September 3), suggests conventional measures of the synchronisation of business cycles in emerging and developed economies mask important elements of economic interdependence.
The author, Pierre Siklos, groups countries into nine regions, using annual data since 1980 to produce factor-augmented quantile regressions. The paper finds that these display more accurate representations of the interdependence of economies in different regions
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