Amdur, David; Ersal Kiziler, Eylem - Volkswirtschaftliche Fakultät, … - 2012
From 1960-2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two-country, two-good real business cycle (RBC) model in...