Similarities and Convergence in G-7 Cycles
By Fabio Canova, Matteo Ciccarelli, Eva Ortega. Social Science Research Network, 2007
334 citations recorded by the source corpus.
This paper examines the properties of G-7 cycles using a multicountry Bayesian panel VAR model with time variations, unit specific dynamics and cross country interdependences. We demonstrate the presence of a significant world cycle and show that country specific indicators play a much smaller role. We detect differences across business cycle phases but, apart from an increase in synchronicity in the late 1990s, find little evidence of major structural changes. We also find no evidence of the existence of an Euro area specific cycle or of its emergence in the 1990s.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/934389017e8814452227c3c3ead4ad30e0d6d1a0
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- George Filis
- Ioannis Chatziantoniou
- Nikolaos Antonakakis
- Matteo Ciccarelli
- Fabio Canova
- Stavros Degiannakis *
- A. Belke
- Ralph Setzer
In Finance
- George Filis
- Ioannis Chatziantoniou
- Nikolaos Antonakakis
- Matteo Ciccarelli
- Fabio Canova
- A. Belke
- David Gabauer
- Stavros Degiannakis *
Citations in the corpus
- Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View (2010, background): “An example is Ciccarelli and Mojon (2005) who identify a significant robust error-correction mechanism which implies that deviations of national inflation from global inflation are corrected over time.”
- Trends and Cycles in the Euro Area: How Much Heterogeneity and Should We Worry About it? (2006, neutral): “This qualifies the result by Canova et al. (2004) and by Monfort et al. (2004) by distinguishing between origin of the shock (worldwide) and propagation mechanism (Euro Area specific).”
- Do institutional changes affect business cycles?: evidence from Europe (2012, neutral): “[9] Canova, F.”
- Determining the number of factors in approximate factor models with global and group-specific factors (2008, neutral): “[8] Canova, F.”
- Energy consumption, CO2 emissions and economic growth: an ethical dilemma (2017, methodology): “…a variety of issues of interest to applied macroeconomists and policymakers, such as, business cycle convergence and cross sectional dynamics (Canova et al., 2007; Canova and Ciccarelli, 2012), the construction of coincident or leading indicators of economic activity (Canova and Ciccarelli,…”
- Measuring the frequency dynamics of financial connectedness and systemic risk (2015, neutral): “asures excluding the zero frequency, which holds the information about common permanent shocks. 12Common shocks driving business cycles are conrmed by large literature, e.g. Stock and Watson (2005); Canova et al. (2007); Kose et al. (2008) 13The results from unit root and cointegration testing are a”
- Panel Vector Autoregressive Models: A Survey (2013, positive): “Within the realm of the business cycle literature, Canova et al. (2007) have employed a panel VAR to study the similarities and convergences among G7 cycles, while Canova and Ciccarelli (2012) employ them to examine the cross-sectional dynamics of Mediterranean business cycles.”