search query: @indexterm BUSINESS CYCLES / total: 529
reference: 332 / 529
| Author: | |
| Title: | International business cycles. |
| Journal: | American Economic Review
1993 : JUN, VOL 83:3, p. 335-359 |
| Index terms: | BUSINESS CYCLES SUPPLY |
| Language: | eng |
| Abstract: | A dynamic two-country model is estimated in which economic fluctuations are driven by a worldwide supply shock, country-specific supply shocks, and relative fiscal, money, and preference shocks. Supply shocks, particularly country-specific ones, are very important in generating international business cycles. Although the post-1973 flexible exchange-rate period has been inherently more volatile, there are no differences in transmission properties of economic disturbances across exchange-rate regimes for the endogenous variables which are focused on. |
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