Lubik, Thomas A. (contributor); Teo, Wing Leong (contributor) - 2005
Do World Shocks Drive Domestic Business Cycles?
Some Evidence from Structural Estimation
Thomas A. Lubik
Department of … Economics
Johns Hopkins Universityy
Wing Leong Teo
Department of Economics
Johns Hopkins Universityz
July 12, 2005
Abstract …-equation restrictions implied by the structural model. We �nd that
world interest rate shocks are the main driving forces of business cycles …