Electronic Resource
Oxford, UK and Boston, USA
:
Blackwell Publishers Ltd
Metroeconomica
53 (2002), S. 0
ISSN:
1467-999X
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
The possibility of co-movements in the cyclical variations of aggregate output in different countries has received increasing attention in recent years. The present paper derives sufficient conditions for the occurrence of persistent co-movements in the mean processes of aggregate economic variables of different countries, an effect called ‘phase-locking’. The fact that the ‘phase-locking’ effect results under fairly elementary assumptions may be taken to challenge the sophisticated theoretical speculations about the international transmission of business cycles. International co-movements may simply be due to a ‘technical’ effect which is generic to interrelated cycling dynamic systems.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/1467-999X.t01-1-00136
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