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• W2597588047 abstract "Abstract This paper proposes a Markov‐switching framework to endogenously identify periods where economies are more likely to (i) synchronously enter recessionary and expansionary phases, and (ii) follow independent business cycles. The reliability of the framework is validated with simulated data in Monte Carlo experiments. The framework is applied to assess the time‐varying intra‐country synchronization in the US. The main results report substantial changes over time in the cyclical affiliation patterns of US states, and show that the more similar the economic structures of states, the higher the correlation between their business cycles. A synchronization‐based network analysis discloses a change in the propagation pattern of aggregate contractionary shocks across states, suggesting that the US has become more internally synchronized since the early 1990s." @default.
• W2597588047 created "2017-04-07" @default.
• W2597588047 creator A5061878543 @default.
• W2597588047 date "2017-03-23" @default.
• W2597588047 modified "2023-10-18" @default.
• W2597588047 title "Measuring Business Cycles Intra-Synchronization in US: A Regime-switching Interdependence Framework" @default.
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• W2597588047 doi "https://doi.org/10.1111/obes.12157" @default.
• W2597588047 hasPublicationYear "2017" @default.
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