Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008
demand vs. sup-
ply shocks as well as on the relative role of productivity vs. non-productivity shocks in
the business cycle … frictions that have been calibrated or estimated to
match international business cycle properties. In the end, whether the … by Justiniano and
Preston (2006), open-economy DSGE models have difficulties explaining the comovement
of business cycles …