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Business Cycle Volatility and Openness : An Exploratory Cross-Section Analysis

Razin, Assaf; Rose, Andrew Kenan - 2022

This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts …

Persistent link: https://www.econbiz.de/10014074148

Business Cycles and the Asset Structure of Foreign Trade

Baxter, Marianne - 2010

International financial market linkages are widely believed to be important for the international transmission of business cycles, since these govern the extent to which individuals can smooth consumption in the presence of country-specific shocks to income. This paper develops a two-country,...

Persistent link: https://www.econbiz.de/10012763571

International Trade and Business Cycles

Baxter, Marianne - 2021

Virtually all economies experience recurrent fluctuations in economic activity that persist for periods of several quarters to several years. Further, there is a definite tendency for the business cycles of developed countries to move together--there is a world component to business cycles. This...

Persistent link: https://www.econbiz.de/10013237018

Global House Price Fluctuations : Synchronization and Determinants

Hirata, Hideaki - 2012

We examine the properties of house price fluctuations across eighteen advanced economies over the past forty years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To...

Persistent link: https://www.econbiz.de/10013100986

World Shocks, World Prices, and Business Cycles : An Empirical Investigation

Fernàndez, Andrés - 2016

Most existing studies of the macroeconomic effects of global shocks assume that they are mediated by a single intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This paper presents an empirical framework in which multiple...

Persistent link: https://www.econbiz.de/10012979352

TFP, News, and "Sentiments : " the International Transmission of Business Cycles

Levchenko, Andrei A. - 2015

We propose a novel identification scheme for a non-technology business cycle shock, that we label "sentiment." This is … a shock orthogonal to identified surprise and news TFP shocks that maximizes the short-run forecast error variance of an … shock produces a business cycle in the US, with output, hours, and consumption rising following a positive shock, and …

Persistent link: https://www.econbiz.de/10013026790

Cyclical Dispersion in Expected Defaults

Gomes, Joao F. - 2017

A growing literature shows that credit indicators forecast aggregate real outcomes. While researchers have proposed various explanations, the economic mechanism behind these results remains an open question. In this paper, we show that a simple, frictionless, model explains empirical findings...

Persistent link: https://www.econbiz.de/10012949416

International Business Cycle Synchronization in Historical Perspective

Bordo, Michael D. - 2010

evidence for the past 20 or 30 years and which has produced mixed results. We then examine the role of global shocks and shock …

Persistent link: https://www.econbiz.de/10013142079

International Home Bias in International Finance and Business Cycles

Lewis, Karen K. - 2008

portfolio theory would suggest. This phenomenon has been called equity home bias.' In the absence of this home bias, investors …

Persistent link: https://www.econbiz.de/10012774915

A Contagious Malady? Open Economy Dimensions of Secular Stagnation

Eggertsson, Gauti B. - 2016

Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth - characterize much of the global economy. We consider an overlapping generations, open economy model of secular stagnation, and examine the effect of capital flows on the transmission of...

Persistent link: https://www.econbiz.de/10012989734

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