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January 28, 2010 | History

Common factors in Latin America's business cycles 1 edition

Common factors in Latin America's business cycles
Marco Aiolfi

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Common factors in Latin America's business cycles
prepared by Marco Aiolfi, Luis Catão, Allan Timmermann.

Published 2006 by International Monetary Fund, Research Dept. in Washington, D.C .
Written in English.

About the Book

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.

Edition Notes

"February 2006."

Includes bibliographical references (p. 23-27).

Also available on the World Wide Web.

Series
IMF working paper -- WP/06/49

The Physical Object

Pagination
62 p. :
Number of pages
62

ID Numbers

Open Library
OL21730545M

History Created December 11, 2009 · 2 revisions Download catalog record: RDF / JSON

January 28, 2010 Edited by WorkBot add more information to works
December 11, 2009 Created by WorkBot add works page