Globalization characterizes the economic, social, political, and cultural spheres of the
modern world. Tourism has long been claimed as a crucial force shaping globalization …

This paper introduces a global database that contains inflation series:(i) for a wide range of
inflation measures (headline, food, energy, and core consumer price inflation; producer …

US monetary policy shocks induce comovements in the international financial variables that
characterize the “Global Financial Cycle.” A single global factor that explains an important …

We provide a comprehensive analysis of the impact of economic and financial globalization
on asset return comovements over the past 35 years. Our globalization indicators draw a …

This paper extends the literature on the relationship between oil price shocks and financial
markets by examining the effect of oil shocks on the sovereign bond markets of a large …

The world economy has experienced four global recessions over the past seven decades: in
1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global …

We provide a comprehensive empirical characterization of the linkages between key
macroeconomic and financial variables around business and financial cycles, for 21 OECD …

We analyze the impact of financial globalization on business cycle synchronization using a
proprietary database on banks' international exposure for industrialized countries during …

We explore the hypothesis that fluctuations in commodity prices are an important driver of
business cycles in small emerging market economies (EMEs). First, we document that …

The behavior of commodities is critical for developing and developed countries alike. This
paper contributes to the empirical evidence on the co-movement and determinants of …