Author : Mr.Ayhan Kose
Publisher : International Monetary Fund
ISBN 13 : 1451875878
Total Pages : 39 pages
Book Rating : 4.74/5 ( download)
Book Synopsis Volatility and Comovement in a Globalized World Economy by : Mr.Ayhan Kose
Download or read book Volatility and Comovement in a Globalized World Economy written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2003-12-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment fluctuations using two distinct datasets. The results suggest that there has been a significant decline in the volatility of business cycle fluctuations and a slight increase in the degree of cyclical comovement among industrialized countries over time. However, for emerging market economies, financial globalization appears to have been associated, on average, with an increase in macroeconomic volatility as well as declines in the degree of comovement of output and consumption growth with their corresponding world aggregates.