Medium Term Business Cycles in Developing Countries

• Tác giả: Diego Comin
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.54 Economic fluctuations
• Thông tin xuất bản: American Economic Association, 2014
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 304633
• Chủ đề: 1. business cycle; 2. capital movements; 3. diffusion processes; 4. Neoclassical aggregative model; 5. trade

Tóm tắt

 This paper studies the transmission of business cycle fluctuations for developed (N ) to developing economies (S ) with a two-country, asymmetric, DSGE model with endogenous development of new technologies in N, and sunk costs of exporting and transferring the production of the intermediate goods to S. Consistent with the data, the flow of technologies from N to S co-moves positively with output in N and S
  shocks to N have a large effect on S
  business cycles in N lead over medium term fluctuations in S
  the cross-correlation of outputs is larger than consumption
  and interest rates in S are counter-cyclical.