Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/285094 
Title (translated): 
Determinants of business cycle synchronization in North America
Year of Publication: 
2022
Citation: 
[Journal:] Estudios de Economía [ISSN:] 0718-5286 [Volume:] 49 [Issue:] 1 [Year:] 2022 [Pages:] 63-89
Publisher: 
Universidad de Chile, Departamento de Economía, Santiago de Chile
Abstract (Translated): 
This article analyzes the role of trade and financial integration, productive specialization and monetary policies in the synchronization of business cycles in North America from a long-run perspective. For this purpose, we estimate seemingly unrelated regression (SUR) models and Granger causality tests with annual panel data for Canada, the United States and Mexico during the period 1980-2019. The main findings suggest that: 1) trade integration has a positive effect and productive specialization a negative one on business cycle synchro-nization of the economies; 2) intra-industrial trade predominates in the region; 3) trade and financial integration processes are complementary; 4) financial integration promotes productive specialization; and, 5) progresses in trade and financial integration within the region are heterogeneous.
Subjects: 
Business cycles sinchronization
trade integration
financial integration
productive specialization
North America
JEL: 
F15
F42
F44
Creative Commons License: 
cc-by-nc-sa Logo
Document Type: 
Article

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