LEADER 05510oam 22013454 450 001 9910788524303321 005 20230829002125.0 010 $a1-4623-9017-X 010 $a1-4527-9858-3 010 $a1-282-44802-1 010 $a9786613821218 010 $a1-4519-0845-8 035 $a(CKB)3360000000443160 035 $a(EBL)3014515 035 $a(SSID)ssj0000940091 035 $a(PQKBManifestationID)11600620 035 $a(PQKBTitleCode)TC0000940091 035 $a(PQKBWorkID)10946532 035 $a(PQKB)10101241 035 $a(OCoLC)694141211 035 $a(MiAaPQ)EBC3014515 035 $a(IMF)WPIEE2006049 035 $a(EXLCZ)993360000000443160 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCommon Factors in Latin America's Business Cycles /$fAllan Timmermann, Luis Catão, Marco Aiolfi 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (64 p.) 225 1 $aIMF Working Papers 300 $a"February 2006." 311 $a1-4518-6309-8 320 $aIncludes bibliographical references. 327 $aContents; I. INTRODUCTION; II. ECONOMETRIC FRAMEWORK; III. NEW BUSINESS CYCLE INDICES FOR LATIN AMERICA; IV. STYLIZED BUSINESS CYCLE FACTS; V. CONCLUSIONS; REFERENCES 330 3 $aThis paper constructs new business cycle indices for Argentina, Brazil, Chile, and Mexico based on common dynamic factors extracted from a comprehensive set of sectoral output, external data, and fiscal and financial variables spanning over a century. The constructed indices are used to derive a business cycle chronology for these countries and characterize a set of new stylized facts. In particular, we show that all four countries have historically displayed a striking combination of high business cycle and persistence relative to benchmark countries, and that such volatility has been time-varying, with important differences across policy regimes. We also uncover a sizeable common factor across the four economies which has greatly limited scope for regional risk sharing. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/049 606 $aBusiness cycles$zLatin America$xEconometric models 606 $aBusiness forescasting$zLatin America 606 $aEconometrics$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aEconomic History: Macroeconomics and Monetary Economics$2imf 606 $aGrowth and Fluctuations: General, International, or Comparative$2imf 606 $aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)$2imf 606 $aClassification Methods$2imf 606 $aCluster Analysis$2imf 606 $aPrincipal Components$2imf 606 $aFactor Models$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aEconomic growth$2imf 606 $aEconometrics & economic statistics$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aBusiness cycles$2imf 606 $aFactor models$2imf 606 $aTerms of trade$2imf 606 $aEconomic recession$2imf 606 $aExpenditure$2imf 606 $aEconometric analysis$2imf 606 $aInternational trade$2imf 606 $aEconometric models$2imf 606 $aEconomic policy$2imf 606 $anternational cooperation$2imf 606 $aRecessions$2imf 606 $aExpenditures, Public$2imf 607 $aMexico$2imf 615 0$aBusiness cycles$xEconometric models. 615 0$aBusiness forescasting 615 7$aEconometrics 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aEconomic History: Macroeconomics and Monetary Economics 615 7$aGrowth and Fluctuations: General, International, or Comparative 615 7$aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 615 7$aClassification Methods 615 7$aCluster Analysis 615 7$aPrincipal Components 615 7$aFactor Models 615 7$aEmpirical Studies of Trade 615 7$aNational Government Expenditures and Related Policies: General 615 7$aEconomic growth 615 7$aEconometrics & economic statistics 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aBusiness cycles 615 7$aFactor models 615 7$aTerms of trade 615 7$aEconomic recession 615 7$aExpenditure 615 7$aEconometric analysis 615 7$aInternational trade 615 7$aEconometric models 615 7$aEconomic policy 615 7$anternational cooperation 615 7$aRecessions 615 7$aExpenditures, Public 700 $aTimmermann$b Allan$01462123 701 $aCatão$b Luis$01462122 701 $aAiolfi$b Marco$01462124 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788524303321 996 $aCommon Factors in Latin America's Business Cycles$93670964 997 $aUNINA