International Business Cycle Synchronization in Historical Perspective
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This is a revised version of a paper prepared for the International Symposium on Business Cycle Behaviour in Historical Perspective, University of Manchester, June 29-30, 2009. We are grateful to Matteo Ciccarelli for comments on an earlier draft of the paper and two referees for helpful suggestions. The views presented in the paper reflect only those of the authors and should not be attributed to the IMF or IMF policy. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.