Trade Intensity and Business Cycle Synchronization : Are Developing Countries any Different ? *

@inproceedings{Caldern2002TradeIA,
  title={Trade Intensity and Business Cycle Synchronization : Are Developing Countries any Different ? *},
  author={C{\'e}sar A. Calder{\'o}n},
  year={2002}
}
  • César A. Calderón
  • Published 2002
Some key criteria in the optimal currency area literature are that countries should join a currency union if they have closer international trade links and more symmetric business cycles. However, both criteria are endogenous. Frankel and Rose (1998) find that trade intensity increases cycle correlation among industrial countries. We study whether the same result holds true for the case of developing countries, as their different patterns of international trade and specialization may lead to… CONTINUE READING
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