Kim, Soyoung; Lee, Jaewoo - Hong Kong Institute for Monetary Research (HKIMR), … - 2008
This paper investigates international macroeconomic fluctuations in light of NOEM (New Open Economy Macroeconomics) models. A model with four major economic disturbances (technology shocks, labor supply shocks, preference shocks, and nominal shocks) is analytically solved to derive theoretical...