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Common Factors in Latin America's Business Cycles / / Allan Timmermann, Luis Catão, Marco Aiolfi



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Autore: Timmermann Allan Visualizza persona
Titolo: Common Factors in Latin America's Business Cycles / / Allan Timmermann, Luis Catão, Marco Aiolfi Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
Descrizione fisica: 1 online resource (64 p.)
Soggetto topico: Business cycles - Latin America - Econometric models
Business forescasting - Latin America
Econometrics
Exports and Imports
Macroeconomics
Public Finance
Business Fluctuations
Cycles
Economic History: Macroeconomics and Monetary Economics
Growth and Fluctuations: General, International, or Comparative
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Classification Methods
Cluster Analysis
Principal Components
Factor Models
Empirical Studies of Trade
National Government Expenditures and Related Policies: General
Economic growth
Econometrics & economic statistics
International economics
Public finance & taxation
Business cycles
Factor models
Terms of trade
Economic recession
Expenditure
Econometric analysis
International trade
Econometric models
Economic policy
nternational cooperation
Recessions
Expenditures, Public
Soggetto geografico: Mexico
Altri autori: CatãoLuis  
AiolfiMarco  
Note generali: "February 2006."
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Contents; I. INTRODUCTION; II. ECONOMETRIC FRAMEWORK; III. NEW BUSINESS CYCLE INDICES FOR LATIN AMERICA; IV. STYLIZED BUSINESS CYCLE FACTS; V. CONCLUSIONS; REFERENCES
Sommario/riassunto: This 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.
Titolo autorizzato: Common Factors in Latin America's Business Cycles  Visualizza cluster
ISBN: 1-4623-9017-X
1-4527-9858-3
1-282-44802-1
9786613821218
1-4519-0845-8
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788524303321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2006/049