Synchronization of Recessions in Major Developed and Emerging Economies
Published By: CDE on eSS | Published Date: September, 16 , 2009This paper examines various measures of synchronization of recessions, including clustering
of the onset of recession across economies, proportion of economies in expansion and the
diffusion index of international coincident indexes, and shows that the recent global recession
was possibly the most concerted in the post world war period. Factors that contributed to the
synchronization and severity of the recession, such as trade and financial linkages and timing
of policy actions, are analysed. [Working Paper No. 182]
Author(s): Pami Dua, Anirvan Banerji | Posted on: Sep 16, 2010 | Views(1217) | Download (740)