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

• Autore: Timmermann Allan
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (64 p.)
• Soggetto topico: Business cycles - Latin America - Econometric models; Business forescasting - Latin America; Business cycles; Business Fluctuations; Classification Methods; Cluster Analysis; Cycles; Econometric analysis; Econometric models; Econometrics & economic statistics; Econometrics; Economic growth; Economic History: Macroeconomics and Monetary Economics; Economic policy; Economic recession; Empirical Studies of Trade; Expenditure; Expenditures, Public; Exports and Imports; Factor Models; Factor models; Growth and Fluctuations: General, International, or Comparative; International economics; International trade; Macroeconomics; National Government Expenditures and Related Policies: General; Nternational cooperation; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data); Principal Components; Public finance & taxation; Public Finance; Recessions; Terms of trade
• Soggetto geografico: Mexico
• Altri autori: AiolfiMarco CatãoLuis
• 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: 9786613821218; 9781462390175; 146239017X; 9781452798585; 1452798583; 9781282448025; 1282448021; 9781451908459; 1451908458
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910956793003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/049