FYI: The U.S. financial crisis of 2007-08 had detrimental and lasting effects on the economies of othernations, reinforcing the leading role played by the United States in the global economy. The authorsassess this role by determining whether U.S. output growth informs business cycle turning points inthe economies of other nations. They find that U.S. economic growth influences both the timing andduration of business cycle phases for Canada, Germany, the United Kingdom, and, to a lesser extent,Mexico. However, they find no relationship between U.S. output growth and the business cycles of France, Italy, and Japan.
Regards,
Ted
http://www.ritholtz.com/blog/2015/07/does-the-united-states-lead-foreign-business-cycles/print/
