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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
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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
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Business cycles in small, open economies: Evidence from panel data between 1900 and 2013
Miyamoto, Wataru; Nguyen, Thuy Lan - 2016
developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model …
Persistent link: https://www.econbiz.de/10011756431
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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
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The impacts of credit standards on aggregate fluctuations in a small open economy : the role of monetary policy
Le, Hai - In: Economies : open access journal 9 (2021) 4, pp. 1-26
Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a countercyclical direction. In this study, we construct a small open economy model with financial frictions to generate the countercyclical movement in credit standards. Our...
Persistent link: https://www.econbiz.de/10012800343
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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
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Can World Real Interest Rates Explain Business Cycles in a Small Open Economy?
Blankenau, William F. - 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
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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
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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
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Global or Country Business Cycles : Developed versus Developing Countries
Kim, Yun Jung - 2021
Using a multi-level factor model, we estimate a global factor and country factors using the real macroeconomic variables of 71 countries from 1970 to 2018. The global factor successfully captures economic fluctuations in the world economy and primarily comoves with the business cycles of...
Persistent link: https://www.econbiz.de/10013236579