International real business cycles
AbstractWe ask whether a two-country real business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, we document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In the data, outputs are generally more highly correlated across countries than consumptions. In the model we see the opposite.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Working Papers with number 426.
Date of creation: 1987
Date of revision:
Publication status: Published in Federal Reserve Bank of Minneapolis Staff Report 146
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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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