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Synchronisation des cycles au sein du G7 et intégration commerciale et financière

Author

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  • Benoît Heitz
  • François Hild
  • Brieuc Monfort

Abstract

This article examines changes in business-cycle synchronization in the G7 economies in the past thirty years. It specifically analyzes the impact of two synchronization transmission channels: trade and financial relations. Trade relations have gradually increased over the sample period, while financial integration has accelerated since the second half of the 1980s. Using a state-space model, we identify a common business cycle for GDP, exports, and stock-market indexes. We find that the links between economies measured by trade flows and stock-market indexes have indeed increased. By contrast, using GDP as the yardstick, we cannot conclude that the economies have become more synchronized in the recent period.

Suggested Citation

  • Benoît Heitz & François Hild & Brieuc Monfort, 2006. "Synchronisation des cycles au sein du G7 et intégration commerciale et financière," Economie & Prévision, La Documentation Française, vol. 172(1), pages 45-61.
    • Handle: RePEc:cai:ecoldc:ecop_172_0045
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    Cited by:

    1. Fathi Elachhab, 2009. "Décrire le cycle économique en Tunisie," Economie & Prévision, La Documentation Française, vol. 0(3), pages 75-92.

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