Business Cycles in Small Developed Economies : The Role of Terms of Trade and Foreign Interest Rate Shocks

The Role of Terms of Trade and Foreign Interest Rate Shocks

Business Cycles in Small Developed Economies : The Role of Terms of Trade and Foreign Interest Rate Shocks
Empirical evidence for small developed economies finds that consumption is procyclical and as volatile as output, and real net exports are coutercyclical. Earlier studies have not been able to reproduce these regularities in a DSGE small open economy model when productivity shocks drive the business cycles and households have a normal... READ MORE...

Publication date: April 2008
ISBN 9781451869477
$18.00

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