Econbrowser on IMF's World Economic Outlook
One of the most interesting "boxes" in the IMF's World Economic Outlook (in Chapter 1) is the one entitled, somewhat innocuously "Global Business Cycles", by Marco Terrones, Ayhan Kose and Prakash Loungani at the IMF. Yet, it's important to read until the ending paragraph:
To summarize, the 2009 forecasts of economic activity, if realized, would qualify this year as the most severe global recession during the postwar period. Most indicators are expected to register sharper declines than in previous episodes of global recession. In addition to its severity, this global recession also qualifies as the most synchronized, as virtually all the advanced economies and many emerging and developing economies are in recession.
The authors are to be commended for simultaneously analyzing the data for numerous countries (not easy, as anybody who's tried this knows!) and applying a systematic procedure for dating the troughs and peaks.
I'm busy right now... so I haven't had time to check it out. At least go glance at the post, which has some useful graph's (as true to form for Econbrowser) for those interested
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