Antonakakis, N.; Badinger, H. - In: Applied Economics 46 (2014) 30, pp. 3682-3694
This article considers the evolution of international business cycle interdependencies among 27 developed and … 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 …