Global Slowdowns: G-7 Countries Linked in Economic Rollercoaster Ride
The article examines how the economies of G-7 countries have moved together since 1973. It shows that slowdowns in these countries often happen at the same time, like in 2000-2001. By using a special model, the researchers found that global factors explain most of the ups and downs in G-7 economies. They also found that global shocks were the main reason for the slowdown in 2000-2001.