{"id":8769,"date":"2022-07-27T06:33:28","date_gmt":"2022-07-27T06:33:28","guid":{"rendered":"https:\/\/depocen.org\/publications\/determinants-of-business-cycle-synchronization-in-east-asiaan-extreme-bound-analysis\/"},"modified":"2022-07-27T06:33:28","modified_gmt":"2022-07-27T06:33:28","slug":"determinants-of-business-cycle-synchronization-in-east-asiaan-extreme-bound-analysis","status":"publish","type":"publications","link":"https:\/\/depocen.org\/en\/publications\/determinants-of-business-cycle-synchronization-in-east-asiaan-extreme-bound-analysis\/","title":{"rendered":"Determinants of Business Cycle Synchronization in East Asia:\r\nAn Extreme Bound Analysis"},"content":{"rendered":"<p>We investigate the determinants of business cycle synchronization in East Asia by<br \/>\ntesting the robustness of the potential candidates, using the technique of Extreme Bound<br \/>\nAnalysis in an OLS regression framework with Newey-West correction for<br \/>\nheteroskedasticity and autocorrelation. We find that trade openness and intra-industry<br \/>\ntrade are major channels of business cycle synchronization. Although the similarity of<br \/>\nmonetary policies is statistically correlated with degree synchronization, we are unsure<br \/>\nwhether the former causes the latter or vise versa. The findings are probably good news<br \/>\nto the proponents of the prospective currency union. If the trend of increasing openness<br \/>\nand bilateral intra-industry trade continues in East Asia, it is expected that the costs of<br \/>\nforming a currency union would diminish as business cycles become more synchronized.<\/p>\n","protected":false},"featured_media":0,"template":"","cate_publications":[],"author_publications":[1576,1577],"topic_publications":[],"class_list":["post-8769","publications","type-publications","status-publish","hentry","author_publications-toan-nguyen","author_publications-toan-nguyen-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/publications\/8769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/types\/publications"}],"wp:attachment":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/media?parent=8769"}],"wp:term":[{"taxonomy":"cate_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/cate_publications?post=8769"},{"taxonomy":"author_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/author_publications?post=8769"},{"taxonomy":"topic_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/topic_publications?post=8769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}