Breaks in the Variability and Comovement of G-7 Economic Growth
检验了G-7国家产出、消费和投资的波动性与联动性是否存在结构性突变，发现尽管经济一体化加深，但各国增长率的相关性并未显著上升。
This paper investigates breaks in the variability and comovement of output, consumption, and investment in the G-7 economies. In contrast with most other papers on comovement, we test for changes in comovement, allowing for breaks in mean and variance. Despite claims that rising integration among these economies has increased output correlations among them, we find no clear evidence of an increase in correlation of growth rates of output, consumption, or investment. This finding is true even for the United States and Canada, which have seen a tremendous increase in bilateral trade shares, and for the euro-area members of the G-7. © 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.