Decoding Synchronization of Cycles between U.S. and BRICS Economies: Patterns and Drivers
Description
This provides the dataset and code for replication of paper titled "Decoding Synchronization of Cycles between U.S. and BRICS Economies: Patterns and Drivers."
Files
Steps to reproduce
Construction of Tables Table 1: To generate data for Table 1, refer to the STATA do file, code_replication.do and use data file dummy.xlsx. Table 2: For construction of time-varying conditional correlations, refer to RATS code file code_DCC_GR.rpf for the constructed correlations for the growth rate cycles. Since the Table uses proprietary data, construction code generates synthetic estimates. Similarly, data for correlations across stock markets has been created in the file SM.xlsx and shared along with the replication code DCC_SM.rpf to generate the results in (Table A2 of the Annexure). Tables 3-7: The data has been arranged in the panel format and the correlations have been transformed to create the dependent variable for synchronization. See, STATA data file EM_data.dta for reference and for the replication code, refer to replication_panel.do.