Uribe, Martín (contributor); Yue, Vivian Z. (contributor) - 2003
at business-cycle frequency. (2) Country spread shocks explain about 12 percent of
business-cycle movements in emerging … of the importance
of country spreads in generating business cycle fluctuations, suppose that the (emerging)
economy is …) US interest rate shocks explain about 20 per-
cent of movements in aggregate activity in emerging countries at business-cycle …