Centre De Recherche Sur L'emploi Et Les Uctuations Economiques (cref E) Research Center on Employment and Economic Fluctuations (rceef) International Real Business Cycles among Heterogeneous Countries
نویسنده
چکیده
Business cycle statistics di er widely across countries for some aggregates, especially for trade-related variables. Part of these variations relates to the size of the economies and to their distance from each other. This paper asks whether a three-country model is able to display the marked diversity of business cycle statistics observed across countries. The model is calibrated to two speci c examples, Canada and Switzerland. Our ndings are that most of the diversity of the business cycles can be accounted for by size and distance, and that trade is not a strong channel of di usion of cycles.
منابع مشابه
Centre De Recherche Sur L'emploi Et Les Uctuations Economiques Cref E Research Center on Employment and Economic Fluctuations Rceef International Trade over the Business Cycle: Stylized Facts and Remaining Puzzles
Using quarterly national accounts for 19 industrialized economies, the business cycle behavior of trade related aggregates and prices is assessed. Emphasis is put on the distinction between small, relatively open, and large, relatively closed, economies. Comparing those facts with the computational experiments of international real business cycle models, several puzzles are studied or uncovered...
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