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International Real Business Cycles


  • Backus, David K
  • Kehoe, Patrick J
  • Kydland, Finn E


The 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.

Suggested Citation

  • Backus, David K & Kehoe, Patrick J & Kydland, Finn E, 1992. "International Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 745-775, August.
  • Handle: RePEc:ucp:jpolec:v:100:y:1992:i:4:p:745-75

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    References listed on IDEAS

    1. William Lott, 1983. "Are Women Economists at a Disadvantage in Publishing Journal Articles? A Methodological Comment," Eastern Economic Journal, Eastern Economic Association, vol. 9(2), pages 133-138, Apr-Jun.
    2. Lazear, Edward P, 1989. "Pay Equality and Industrial Politics," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 561-580, June.
    3. McDowell, John M & Melvin, Michael, 1983. "The Determinants of Co-Authorship: An Analysis of the Economics Literature," The Review of Economics and Statistics, MIT Press, vol. 65(1), pages 155-160, February.
    4. Garvey, Gerald T & Swan, Peter L, 1992. "Managerial Objectives, Capital Structure, and the Provision of Worker Incentives," Journal of Labor Economics, University of Chicago Press, vol. 10(4), pages 357-379, October.
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