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Susanne Bärenthaler-Sieber, Sandra Bilek-Steindl, Christian Glocker, Trade Synchronisation During Major Economic Crises

WIFO Working Papers, 2013, (449), 56 pages
In this paper we present a new long-term database on monthly export and import series for 23 economies during 1921-2010 and its first empirical application. Using these data, we analyse the synchronised decline in foreign trade during the recession 2008-09 in a historical perspective. We investigate the following two research questions: First, we compare the degree of synchronisation of trade flows among the past major economic crises. Second, we investigate the synchronisation of the speed of the recovery after these recessions. In order to answer these questions we use both, descriptive statistics (like rolling correlations) and turning-point oriented measures (Bry-Boschan routine, Markov switching model).
 
Research group:Industrial Economics, Innovation and International Competition – Macroeconomics and European Economic Policy
Language:English

Related issues

Marcus Scheiblecker (Coord.), Karl Aiginger, Sandra Bilek-Steindl, Christian Glocker, Susanne Sieber, The Synchronisation of Foreign Trade During Major Economic Crises. A Comparison from the 1920s Onwards

Reports (completed projects), December 2012
In this study we put the synchronised decline in foreign trade during the Great Recession 2008-09 in a historical perspective. The first part of the project is the construction of a consistent set of monthly time series including nominal values of exports and imports for a set of 23 economies over the period from 1921 up to now. Using this new dataset we investigate the following two research questions: First, we compare the degree of synchronisation of trade flows among the past major economic crises. Second, we investigate the synchronisation of the speed of the recovery after these recessions. In order to answer these questions we use both, descriptive statistics (like rolling correlations) and turning-point oriented measures (Bry and Boschan, Markov-switching model).
Report to the Jubiläumsfonds of the Oesterreichische Nationalbank, Project-No 14164
 
Supported by: Anniversary Fund of the Oesterreichische Nationalbank
Study by: Austrian Institute of Economic Research

Marcus Scheiblecker, Karl Aiginger, Sandra Bilek-Steindl, Susanne Sieber, The Synchronisation of Foreign Trade During Major Crises – A Comparison From 1921 Onwards

Reports (completed projects), December 2011
Interim Report to the Jubiläumsfonds of the Oesterreichische Nationalbank, Project-No 14164
 
Study by: Austrian Institute of Economic Research
Supported by: Anniversary Fund of the Oesterreichische Nationalbank
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