Common factors in Latin America's business cycles / / Marco Aiolfi, Luis Catao, Allan Timmermann

• Autore: Aiolfi Marco
• Pubblicazione: Washington, D.C., : International Monetary Fund, Research Dept., c2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (64 p.)
• Soggetto topico: Business cycles - Latin America - Econometric models; Business forescasting - Latin America
• Altri autori: CataoLuis TimmermannAllan
• 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
• 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.: 9910808811303321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/06/49.