Since 2014
Evidence on Common Features and Business Cycle Synchronization in Mercosur
Brazilian Review of Econometrics
View Archive Info| Field | Value | |
| Title |
Evidence on Common Features and Business Cycle Synchronization in Mercosur
Evidence on Common Features and Business Cycle Synchronization in Mercosur |
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| Creator |
Gutierrez, Carlos Enrique Carrasco; FUCAPE Business School
Gomes, Fábio Augusto Reis; Insper Instituto de Ensino e Pesquisa |
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| Subject |
Mercosur; business cycles; trend-cycle decomposition; common features; spectral analysis
C32; E32; F02; F23 Mercosur; business cycles; trend-cycle decomposition; common features; spectral analysis C32; E32; F02; F23 |
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| Description |
The aim of this work is to analyze the business cycles of the Mercosurís member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge- Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in frequency domain. Despite the evidence of common features, the results suggest that the business cycles are not synchronized. This may generate an enormous dificulty to intensify the agreements into Mercosur
The aim of this work is to analyze the business cycles of the Mercosurís member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge- Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in frequency domain. Despite the evidence of common features, the results suggest that the business cycles are not synchronized. This may generate an enormous dificulty to intensify the agreements into Mercosur |
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| Publisher |
Sociedade Brasileira de Econometria
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| Date |
2009-05-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2695
10.12660/bre.v29n12009.2695 |
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| Source |
Brazilian Review of Econometrics; Vol 29, No 1 (2009); 17-58
Brazilian Review of Econometrics; Vol 29, No 1 (2009); 17-58 1980-2447 |
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| Language |
eng
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| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2695/1823
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