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Business cycles in small open economies : Evidence from panel data between 1900 and 2013

Miyamoto, Wataru - 2016

and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly …

Persistent link: https://www.econbiz.de/10013007955

Business cycles in small open economies : evidence from panel data between 1900 and 2013

Miyamoto, Wataru; Nguyen, Thuy Lan - In: International economic review 58 (2017) 3, pp. 1007-1044

Persistent link: https://www.econbiz.de/10011860346

Understanding the cross-country effects of US technology shocks

Miyamoto, Wataru; Nguyen, Thuy Lan - 2017

Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply...

Persistent link: https://www.econbiz.de/10011662021

International transmission of credit shocks in an equilibrium model with production heterogeneity

Imura, Yuko; Thomas, Julia K. - 2015

. This paper investigates the extent to which a credit shock in one country is transmitted to its trade partners. To this end … investment loans. We find that a negative credit shock to one country induces a sharp contraction in that country's economy …. The degree of credit-shock transmission depends on the home bias in international trade and the type of goods countries …

Persistent link: https://www.econbiz.de/10011280030

The Aino 3.0 model

Silvo, Aino; Verona, Fabio - 2020

In this paper we present Aino 3.0, the latest vintage of the dynamic stochastic general equilibrium (DSGE) model used at the Bank of Finland for policy analysis. Aino 3.0 is a small-open economy DSGE model at the intersection of the recent literatures on so-called TANK (“Two-Agent New...

Persistent link: https://www.econbiz.de/10012225376

Can World Real Interest Rates Explain Business Cycles in a Small Open Economy?

Blankenau, William - 2006

's observable endogenous variables. Then we use variance decompositions to examine the importance of each shock. We apply this …

Persistent link: https://www.econbiz.de/10012735713

Endogenous time-varying volatility and emerging market business cycles

Dueber, Jan-Philipp - 2018

Time-varying volatility plays a crucial role in understanding business cycles in emerging market economies. However, the literature treats volatility as an exogenous process. This paper endogenizes time-varying volatility in the debt premium and total factor productivity into a standard small...

Persistent link: https://www.econbiz.de/10011925940

Investment Specific Technology Shocks and Emerging Market Business Cycle Dynamics

Dogan, Aydan - 2017

technology shock is very important in explaining the Mexican output and investment dynamics. This shock explains around 80% of … financial frictions as well as a permanent investment specific technology shock that originates in the US …

Persistent link: https://www.econbiz.de/10012957752

A behavioral New Keynesian model of a small open economy under limited foresight

Na, Seunghoon; Xie, Yinxi - 2023 - Last updated: August 17, 2023

This paper investigates exchange rate dynamics in open economies by incorporating bounded rationality. We develop a small open-economy New Keynesian model with an incomplete asset market, wherein decision-makers possess limited foresight and can plan for only a finite distance into the future....

Persistent link: https://www.econbiz.de/10014456583

Trade in commodities and business cycle volatility

Kohn, David; Leibovici, Fernando; Tretvoll, Hakon - 2018

This paper studies the role of differences in the patterns of production and international trade on the business cycle volatility of emerging and developed economies. We study a multi-sector small open economy in which firms produce and trade commodities and manufactures. We estimate the model...

Persistent link: https://www.econbiz.de/10011911446