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