IMF paper tests conventional wisdom on economic and financial cycles
World cycles have not become stronger during globalisation period, researchers find
Contrary to conventional belief, world economic and financial cycles have not become stronger following globalisation, a paper published by the international Monetary Fund finds.
In the paper, Eric Monnet and Damien Puy revisit widely held views about economic and financial cycles – namely that they are driven by the US and are getting stronger and more synchronised due to globalisation. The researchers use a new high-frequency dataset of output, consumer prices, credit and asset prices for a
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