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Emerging Economy Business Cycles : Financial Integration and Terms of Trade Shocks

Bhattacharya, Rudrani - 2017

This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle...

Persistent link: https://www.econbiz.de/10012950443

Tuning in RBC Growth Spectra

Benk, Szilárd - 2017

investment sectors that has variances 10,000 fold smaller than in the standard RBC TFP shock. Simulated moments are compared to …For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities … along with output growth persistence by including a human capital investment sector and a variable physical capital …

Persistent link: https://www.econbiz.de/10012966555

Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation

Klyuev, Vladimir - 2006

This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal...

Persistent link: https://www.econbiz.de/10012783078

The Austrian Theory of Business Cycles : Old Lessons for Modern Economic Policy?

Oppers, Stefan Erik - 2021

claimed that credit creation by monetary authorities would push investment beyond society`s long-term willingness to save …

Persistent link: https://www.econbiz.de/10013317985

Four Decades of Terms-of-Trade Booms : Saving-Investment Patterns and a New Metric of Income Windfall

Adler, Gustavo - 2013

asset accumulation appear to have contributed more to post-boom income than those devoted to domestic investment …

Persistent link: https://www.econbiz.de/10013080863

Financial Shocks and TFP Growth

Estevão, Marcello M. - 2011

We investigate how changes in industries’ funding costs affect total factor productivity (TFP) growth. Panel regressions with 31 U.S. and Canadian industries between 1991 and 2007, using industries’ dependence on external funding as an identification mechanism, show that higher funding costs...

Persistent link: https://www.econbiz.de/10014183896

Financial Disruptions and the Cyclical Upgrading of Labor

Epstein, Brendan - 2017

Amid total factor productivity (TFP) shocks job-to-job flows amplify the volatility ofunemployment, but the aggregate implications of job-to-job flows amid financial shocks are lessunderstood. To develop such understanding we model a general equilibrium labor-searchframework that incorporates...

Persistent link: https://www.econbiz.de/10012950419

Housing Price, Credit, and Output Cycles : How Domestic and External Shocks Impact Lithuania's Credit

Ioannou, Iacovos - 2018

Lithuania's current credit cycle highlights the strong link between housing prices and credit. We explore this relationship in more detail by analyzing the main features of credit, housing price, and output cycles in Baltic and Nordic countries during1995-2017. We find a high degree of...

Persistent link: https://www.econbiz.de/10012912503

Global House Price Fluctuations : Synchronization and Determinants

Hirata, Hideaki - 2013

We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these...

Persistent link: https://www.econbiz.de/10013086308

The Global Impact of the Systemic Economies and MENA Business Cycles

Cashin, Paul Anthony - 2013

States) to the Middle East and North Africa (MENA) region as well as outward spillovers from a GDP shock in the Gulf …

Persistent link: https://www.econbiz.de/10013088734