International Real Business Cycles
AbstractThe authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the model they see the opposite. Copyright 1992 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 100 (1992)
Issue (Month): 4 (August)
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Web page: http://www.journals.uchicago.edu/JPE/
Other versions of this item:
- David K. Backus & Patrick J. Kehoe & Finn E. Kydland, 1991. "International real business cycles," Staff Report 146, Federal Reserve Bank of Minneapolis.
- David K. Backus & Patrick J. Kehoe & Finn E. Kydland, 1987. "International real business cycles," Working Papers 426, Federal Reserve Bank of Minneapolis.
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RePEc Biblio mentionsAs found on the RePEc Biblio, the curated bibliography for Economics:
- > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory
- > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory > International RBC
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- Quantitative Macroeconomics and Real Business Cycles (QM&RBC)
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