Cuñat, Alejandro; Zymek, Robert - In: CESifo economic studies : CESifo, a joint initiative of … 63 (2017) 2, pp. 141-161
domestic product fluctuations and external balances. We produce a model that replicates these facts. A productivity shock in a … shock in the large country will have correlated, negative net exports. The trade balances of all other countries will …