This paper aims to document a set of stylized facts characterizing business cycle dynamics in smaller economies. The paper uses a large sample of countries spanning 1960-2014 to show that country size is a significant factor affecting countries' volatility, comovement with gross domestic product and real interest rate, and persistence. Specifically, analysis finds that smaller countries (i) tend to have more volatile gross domestic product; (ii) have...
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INFORMATION
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2018/07/12
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Document de travail de recherche sur les politiques
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WPS8527
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1
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1
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2018/07/12
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Disclosed
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Characterizing business cycles in small economies
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trade and investment
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