If the Unites States sneezes, does the world need "pain-killers"?

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If the Unites States sneezes, does the world need "pain-killers"? / Herrerias Talamantes, Maria Jesus; Ordonez, JG.

In: International Review of Economics and Finance, Vol. 31, 01.05.2014, p. 159-170.

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@article{1511d1f57eb343f784218271493d6952,
title = "If the Unites States sneezes, does the world need {"}pain-killers{"}?",
abstract = "In this paper we analyze the extent to which the US economy affects international business fluctuations across countries and we ask whether the nonlinear nature of the business cycle affects the degree of co-movement between countries. A multivariate nonlinear LSTAR model is estimated for the GDP cyclical components of China, France, Germany, the UK and the US. This nonlinear framework allows the asymmetries of the business cycle to be captured properly to identify the synchronization behavior across countries. Our results suggest that there is a relevant influence of the US cycle, specifically during recessions.",
keywords = "Business cycle, Nonlinearities, Synchronization, Decoupling",
author = "{Herrerias Talamantes}, {Maria Jesus} and JG Ordonez",
year = "2014",
month = may,
day = "1",
doi = "10.1016/j.iref.2014.01.015",
language = "English",
volume = "31",
pages = "159--170",
journal = "International Review of Economics and Finance",
issn = "1059-0560",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - If the Unites States sneezes, does the world need "pain-killers"?

AU - Herrerias Talamantes, Maria Jesus

AU - Ordonez, JG

PY - 2014/5/1

Y1 - 2014/5/1

N2 - In this paper we analyze the extent to which the US economy affects international business fluctuations across countries and we ask whether the nonlinear nature of the business cycle affects the degree of co-movement between countries. A multivariate nonlinear LSTAR model is estimated for the GDP cyclical components of China, France, Germany, the UK and the US. This nonlinear framework allows the asymmetries of the business cycle to be captured properly to identify the synchronization behavior across countries. Our results suggest that there is a relevant influence of the US cycle, specifically during recessions.

AB - In this paper we analyze the extent to which the US economy affects international business fluctuations across countries and we ask whether the nonlinear nature of the business cycle affects the degree of co-movement between countries. A multivariate nonlinear LSTAR model is estimated for the GDP cyclical components of China, France, Germany, the UK and the US. This nonlinear framework allows the asymmetries of the business cycle to be captured properly to identify the synchronization behavior across countries. Our results suggest that there is a relevant influence of the US cycle, specifically during recessions.

KW - Business cycle

KW - Nonlinearities

KW - Synchronization

KW - Decoupling

U2 - 10.1016/j.iref.2014.01.015

DO - 10.1016/j.iref.2014.01.015

M3 - Article

VL - 31

SP - 159

EP - 170

JO - International Review of Economics and Finance

JF - International Review of Economics and Finance

SN - 1059-0560

ER -