HAVE NATIONAL BUSINESS CYCLES BECOME MORE SYNCHRONIZED

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Global Financial Cycles and Risk Premiums (2018, unknown): “The cyclical behavior GDP across countries is a good example—even accounting for the blip up due to the Great Depression (see Bordo and Helbling 2003).”
Are European business cycles close enough to be just one (2006, unknown): “In this case, the VAR representation of the 2-period ahead forecast error is: 0@ e 1* !+2(! e 1 !+2(! (1)A= 0@ 1 0 0 1 1A0@ &!+2 )!+2 (1)A+ 0@ 1 % 0 1 1A0@ &!+1 )!+1 1A ' (8)”
Understanding the Evolution of World Business Cycles (2005, background): “Using a much longer sample of annual data (1880–2001), Bordo and Helbling (2003) document that the degree of synchronization across industrialized countries has increased over time.”
Stock market synchronization and monetary integration (2011, background): “Otto et al. (2001) and Bordo and Helbling (2003) conclude that international trade affects output comovements in a positive and sig- nificant way, although it does not explain very much.”
Will business cycles in the Euro Area converge: a critical survey of empirical research (2008, background): “Bordo and Helbling (2003) find that their exchange rate policy variable (relative number of years during which the exchange rate between two countries was pegged) is not robustly related to co-movement of GDP growth.”