Does international asynchronization matter for the U.S. business cycle? / Edward N. Gamber, Juann H. Hung.

Format:

Book

Government document

Author/Creator:

Gamber, Edward

Contributor:

Hung, Juann H.

United States. Congressional Budget Office

Series:

Technical paper series (United States. Congressional Budget Office. Macroeconomic Analysis Division) ; 2001-1.

Technical paper series / Congressional Budget Office ; 2001-1

Language:

English

Subjects (All):

United States--Economic conditions.

United States.

Business cycles--United States.

Business cycles.

Economic history.

Physical Description:

1 online resource (51 pages) : illustrations.

Place of Publication:

Washington, DC : Congressional Budget Office, [2001]

Summary:

"This paper proposes and investigates the 'asynchronization hypothesis, ' which predicts that an asynchronized shock tends to have a stronger and longer effect on the U.S. business cycle than an internationally synchronized shock. The hypothesis finds empirical support in the impulse responses of U.S. output and inflation to synchronized and asynchronized shocks; those responses are estimated in a system of four-variable structural vector autoregression. It also finds support in stylized facts: the longest U.S. expansions have tended to occur when the rest of the world is growing below potential."

Notes:

Title from PDF title screen (viewed on Apr. 26, 2010).

"April 2001."

Includes bibliographical references (pages 50-51).

OCLC:

609408130