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- W54931452 abstract "It is often commented by the media that when the US sneezes, Australia catches a cold. There are many previous research on the high correlation of output between the US and Australia, particularly in the 1980s and 1990s. However, recent evidence suggests that the correlation decreased considerably in the last two decades. This thesis re-examines output co-movement in the last twenty years between the US and Australia. In particular, the paper looks at the short-run and long-run dynamics of rolling correlation of output, as well as the causal relationship of output between the two countries. The empirical evidence suggests that in the short-run, the degree of output co-movement is to a large extent explained by movement of output itself. In the long run, the falling degree of trade integration and decreasing similarity of monetary policies are two possible reasons that might explain the decrease of output correlation." @default.
- W54931452 created "2016-06-24" @default.
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- W54931452 date "2009-01-01" @default.
- W54931452 modified "2023-09-27" @default.
- W54931452 title "When the US sneezes, does Australia still catch a cold? : re-examine output co-movements between the US and Australia" @default.
- W54931452 hasPublicationYear "2009" @default.
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