Growth and the International Transmission of Business Cycles
Two-country single-good real business cycle models predict that the cross-country correlation of output is smaller than the cross-country correlations of consumption and productivity, in contrast to the evidence in historical samples. The objective of this paper is to reproduce the observed empirical evidence in a two-country real business cycle model with endogenous growth. Central features of the model include a nonmarket sector and international externalities in production. The model generates realistic cross-country correlations for output, consumption, and productivity with standard parameter values. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 37 (1996)
Issue (Month): 4 (November)
|Contact details of provider:|| Postal: 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297|
Phone: (215) 898-8487
Fax: (215) 573-2057
Web page: http://www.econ.upenn.edu/ier
More information through EDIRC
|Order Information:|| Web: http://www.blackwellpublishing.com/subs.asp?ref=0020-6598 Email: |