Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/50651 
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dc.contributor.authorMumtaz, Haroonen
dc.contributor.authorSimonelli, Saverioen
dc.contributor.authorSurico, Paoloen
dc.date.accessioned2011-10-24T07:51:12Z-
dc.date.available2011-10-24T07:51:12Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/50651-
dc.description.abstractUsing a dynamic factor model, we uncover four main empirical regularities on international comovements in a long-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased over the post-WWII period. The contribution of regional comovements, however, has increased significantly. Second, the share of inflation variation due to a global factor has become larger since 1985. Third, over most of the post-WWII period, international comovements within regions have accounted for the bulk of fluctuations in business cycle and inflation. Fourth, prices have become significantly less countercyclical during the post-1984 sample, with the largest contribution due to external developments.en
dc.language.isoengen
dc.publisher|aBank of England, External Monetary Policy Committee Unit |cLondonen
dc.relation.ispartofseries|aExternal MPC Unit Discussion Paper |x28en
dc.subject.jelE30en
dc.subject.jelF40en
dc.subject.jelN10en
dc.subject.ddc330en
dc.subject.keywordoutput growthen
dc.subject.keywordinflationen
dc.subject.keywordgeographic identificationen
dc.subject.keyworddynamic factor modelen
dc.subject.stwKonjunkturzusammenhangen
dc.subject.stwWirtschaftswachstumen
dc.subject.stwInflationsrateen
dc.subject.stwWirtschaftsgeschichteen
dc.subject.stwWelten
dc.titleInternational comovements, business cycle and inflation: A historical perspective-
dc.typeWorking Paperen
dc.identifier.ppn609932292en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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