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What is Business Cycle Synchronization in HK-China about?

This document analyzes the degree of business cycle synchronization between Hong Kong and Mainland China and between Hong Kong and the United States over time. It uses a two-step procedure: 1) A structural VAR model is used to capture the dynamics of supply and demand shocks to the different regions. 2) A state-space model decomposes the shocks into common and region-specific components to gauge the symmetry of shocks and examine if synchronization has increased over time. The results cast doubt on the feas

Author

Zhang Peilin

Language

EN