Download and Read Real Business Cycles In Emerging Countries full books in PDF, ePUB, and Kindle. Read online free Real Business Cycles In Emerging Countries ebook anywhere anytime directly on your device. We cannot guarantee that every ebooks is available!
Download Real Business Cycles in Emerging Countries? Book in PDF, Epub and Kindle
We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then estimate an augmented model that incorporates shocks to the country premium and financial frictions. We find that the estimated financial-friction model provides a remarkably good account of business cycles in emerging markets and, importantly, assigns a negligible role to nonstationary productivity shocks.
Real Business Cycles in Emerging Countries? Related Books
We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by non
I econometrically estimate the proposed model and find that it can account for the volatility and the countercyclicality of the country risk premium as well as
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economi
Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real b
This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks.
