“...We analyze the evolution of the degree of global cyclical interdependence over the period 1960—2008. Using a dynamic factor model, we decompose macroeconomic...”

“...The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing...”

“...This paper studies the changes in world business cycles during the period 1960–2003. We employ a Bayesian dynamic latent factor model to estimate common and...”

“...Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while...”

“...This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and...”

“...This paper studies the welfare implications of revenue-neutral trade liberalization and fiscal reform programs for developing economies using a multi-sector...”

“...In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. In this paper, we provide...”

“...Recent empirical research finds that pairs of countries with stronger trade linkages tend to have more highly correlated business cycles. We assess whether the...”

“...This article presents a systematic analysis of the availability and use of fiscal space in emerging and developing economies. We report two major results...”

“...Over the past few years, several central banks have implemented negative interest rate policies (NIRP) to provide additional monetary policy stimulus. This...”