Investment : Specific Technology Shocks and International Business Cycles: An Empirical Assessment

Specific Technology Shocks and International Business Cycles: An Empirical Assessment

Investment : Specific Technology Shocks and International Business Cycles: An Empirical Assessment
In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement", "Backus-Smith", and "price" puzzles. Second, we use OECD... READ MORE...

Publication date: September 2010
ISBN 9781455205387
$18.00

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