02023cas a2200253 a 4500 AALejournalIMF015907 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513512969 1018-5941 BD-DhAAL BD-DhAAL Monnet, Eric. One Ring to Rule Them All? : New Evidence on World Cycles / Eric Monnet, Damien Puy. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (36 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 We estimate world cycles using a new quarterly dataset of output, credit and asset prices assembled using IMF archives and covering a large set of advanced and emerging economies since 1950. World cycles, both real and financial, exist and are generally driven by US shocks. But their impact is modest for most countries. The global financial cycle is also much weaker when looking at credit rather than asset prices. We also challenge the view that syncronization has increased over time. Although this is true for prices (goods and assets), this not true for quantities (output and credit). The world business and credit cycles were as strong during Bretton Woods (1950-1972) as during the Globalization period (1984-2006). For most countries, the way their output co-moves with the rest of the world has changed little over the last 70 years. We discuss the reasons behind these new findings and their policy implications for small open economies. Mode of access: Internet Puy, Damien. IMF Working Papers; Working Paper ; No. 2019/202 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/202/001.2019.issue-202-en.xml IMF e-Library