Figure 3. Correlation based network for G7 economies using HP filtered series.

Note: colours corresponds to the weights according to the strength of the correlation, namely black for a value higher than 0.9, blue for a value between 0.75 and 0.9, green for a value between 0.6 and 0.75, red for a value between 0.45 and 0.6 and yellow for a value between 0.3 and 0.45.