02265cas a2200325 a 4500 AALejournalIMF002289 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846577 1018-5941 BD-DhAAL BD-DhAAL Helbling, Thomas. Are they All in the Same Boat? : The 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages / Thomas Helbling, Tamim Bayoumi. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the international business cycle among Group of Seven (G-7) countries since 1973 from two angles. An examination of business cycle synchronization among these countries using simple descriptive statistics shows that synchronized slowdowns have been the norm rather than the exception and that the slowdown in 2000-2001 largely followed patterns seen in the past. The paper also identifies the international business cycle with an asymptotic dynamic factor model. Two global factors explain roughly 80 percent of the variance in G-7 output gaps at business cycle frequencies. The factor model decomposes the "common part" of national output fluctuations into two factors, one capturing the average G-7 cycle and one that corrects for phase and amplitude differences. We also found some evidence supporting the hypothesis that global shocks were the main force behind the slowdown in 2000-2001. Mode of access: Internet Business Cycle Frequency imf Business Cycle Linkage imf Business Cycles imf Output Fluctuation imf WP imf United States imf Bayoumi, Tamim. IMF Working Papers; Working Paper ; No. 2003/046 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/046/001.2003.issue-046-en.xml IMF e-Library