Tiryaki, Suleyman Tolga - In: Central Bank Review (CBR) 19 (2019) 4, pp. 115-127
This paper shows that the strong countercyclicality of net exports observed in emerging market economies can be … model yields countercyclical net exports and realistic business cycle dynamics. The magnitude of the countercyclicality of … net exports increases with the share of imported inputs. The elasticity of substitution between domestic and imported …