Bussière, Matthieu (contributor); … - 2005
calibrated two-country Real Business
Cycle model. Yet, his paper focused on the period 1975-1991 for the US only, thus missing …), while controlling for
business cycle effects using growth and lagged growth gives a coefficient of 0.3 on
the budget deficit in … business cycle fluctuations. Usually, the current account
is generally found to be counter-cyclical: for instance, during a …