This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870s. Using a dynamic measure of correlations, results depend on the globalization period under consideration. During the 2007-2009 recession, business cycles co-movements increased to unprecedented levels. (author's abstract)

This article considers the evolution of international business cycle interdependencies among 27 developed and developing countries since the beginning of 1870s, utilising the generalized vector autoregressive (VAR)-based spillover index of Diebold and Yilmaz (2012), which allows the construction of a time-varying measure of business cycle spillovers. We find that, on average, 65% of the forecast error variance of the 27 countries' business cycle shocks is due to international spillovers. However, the magnitude of international business cycle spillovers varies considerably over time. There is a clear increasing trend since the end of World War II and until the middle 1980s. After that, international business cycle interdependencies declined during the period that was dubbed the Great Moderation, and stabilized around the beginning of the twenty-first century. During the Great Recession of 2008-2009, international business cycle spillovers increased to unprecedented levels. Finally, developed countries are consistently ranked as net transmitters of cyclical shocks to developing counties throughout the sample. (authors' abstract)

This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870's. Using a dynamic measure of business cycle synchronization, results depend on the globalisation period under consideration. On average, US recessions have significantly positive effects on business cycle co-movements only in the period following the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 economies are documented during recessions that occurred under the classical Gold Standard. During the 2007-2009 recession, business cycles co-movements increased to unprecedented levels. (author's abstract) / Series: Department of Economics Working Paper Series

Orientador: Nival Nunes de Almeida / Inclui Listas de ilustrações; e lista de abreviaturas e siglas. / Inclui Glossário. / Dissertação (mestrado) - Escola de Guerra Naval, Programa de Pós-Graduação em Estudos Marítimos (PPGEM), Rio de Janeiro, 2016. / Bibliografia: f.122-127 / O objetivo desta dissertação é apresentar as possibilidades e limitações do uso de medidas de restrição e controle da navegação para proteger a infraestrutura crítica offshore localizada nas bacias do Espírito Santo, Campos e Santos. Por meio do método hi / This thesis aims to present possibilities and limitations for using maritime traffic restriction and control measures to protect offshore critical infrastructure assets located at Espírito Santo, Campos and Santos Basin. Through the hypothetical-deductive / Made available in DSpace on 2018-02-14T18:06:20Z (GMT). No. of bitstreams: 0 Previous issue date: 2016. Added 1 bitstream(s) on 2019-02-13T18:01:10Z : No. of bitstreams: 1 000015a5.pdf: 3638703 bytes, checksum: 29a297725330a3642755ca7f422d61be (MD5)