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Putting the Parts Together.
Countries that trade more with each other exhibit higher business cycle correlation. This paper examines the mechanisms underlying this relationship using a large cross-country industry-level panel dataset of manufacturing production and trade. We show that sector pairs that experience more bilatera...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- I. Introduction; II. Empirical Strategy and Data; A. Sector-Level and Aggregate Comovement; B. Vertical Linkages and Transmission of Shocks; C. Identification and Interpretation; D. Data and Summary Statistics; III. Results; A. Vertical Production Linkages, Trade, and Comovement; IV. The Impact of Sector-Level Trade on Aggregate Comovement; A. Heterogeneity Across Country Pairs; V. Conclusion; Appendix; I. Logs and Levels Estimates; Tables; 1. Impact of Trade on Comovement at the Sector-Level: Pooled Estimates.
- 2. Impact of Trade on Comovement at the Sector-Level: Within- and Cross-Sector Estimates3. Impact of Trade on Comovement at the Sector-Level: Vertical Linkage Estimates; 4. Impact of Trade on Comovement at the Sector-Level: Vertical Linkages, Within-and Cross-Sector Estimates; 5. Impact of Trade on Comovement at the Sector-Level: Vertical Linkages and Elas-ticities of Substitution Estimates; 6. Impact of Trade on Aggregate Comovement: Baseline and Within vs. Cross-Sector Estimates; 7. Impact of Trade on Aggregate Comovement: Main Effect vs. Vertical Linkage Esti-mates.
- 8. Impact of Trade on Comovement for Country-Pair Subsamples: All Specifications9. Impact of Trade on Aggregate Comovement for Subsamples: Main Effect vs. Verti-cal Linkage Estimates; A1. Country Summary Statistics: 1970-99; A2. Subsample Summary Statistics for Manufacturing Sector: 1970-99; A3. Sector Summary Statistics: 1970-99; A4. Estimates of the Impact of Total Bilateral Trade on Aggregate Comovement in Real GDP and Total Manufacturing Real Output; A5. Impact of Trade on Comovement at the Sector-Level: All Specifications for HP-Filtered Data.
- B1. Impact of Trade on Comovement at the Aggregate-Level: Trimming ExerciseB2. Impact of Trade on Comovement at the Sector-Level: Trimming Exercise for Levels .; B3. Impact of Trade on Comovement at the Sector-Level: Trimming Exercise for Logs; B4. Impact of Trade on Comovement at the Sector-Level: Pooled Estimates for Levels; B5. Impact of Trade on Comovement at the Sector-Level: Within- and Cross-Sector Estimates for Levels; B6. Impact of Trade on Comovement at the Sector-Level: Vertical Linkage Estimates for Levels.
- B7. Impact of Trade on Comovement at the Sector-Level: Vertical Linkages, Within-and Cross-Sector Estimates for LevelsB8. Impact of Trade on Comovement at the Sector-Level: Vertical Linkages and Elas-ticities of Substitution Estimates for Levels; Figures; 1. Correlation of Real GDP Growth vs. Correlation of Real Manufacturing Output Growth; 2. Correlation of Real Manufacturing Output Growth vs. Trade Ratios; 3. Contour Representation of the BEA Input-Output Matrix for 28 Manufacturing Sec-tors; 4. Impact of Trade on Bilateral Aggregate Correlation Across Country Pairs; References.