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A0648
Title: Assessing the cross-country interaction of financial cycles: Evidence from the US and the UK Authors:  Till Strohsal - Freie Universitaet Berlin (Germany)
Juergen Wolters - Freie Universitaet Berlin (Germany)
Christian Proano - University of Bamberg (Germany) [presenting]
Abstract: New evidence is provided for the US and the UK on financial cycles as an international phenomenon and how financial cycles interact. Considering the properties of the data in both the time and the frequency domains, we find a strong relation between the financial cycles of the US and the UK. US financial cycles have a significant impact on the UK, but not the other way around. The relation is clearly most pronounced for cycles between 8 and 30 years, which is also the frequency range that explains almost all variation of the data.