| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6511 |
| DP6511 Internationalization of NGOs and Competition on Markets forDevelopment Donations | |
| Thierry Verdier; Gani Aldashev | |
| 发表日期 | 2007-10-05 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | In this paper, we study the co-movement of the government budget balance and the trade balance at business cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, but less so in more open economies. Moreover, for the US the cross-correlation function is S-shaped. We analyze these regularities taking the perspective of international business cycle theory. First, we show that a standard model delivers predictions broadly in line with the evidence. Second, we show that conditional on spending shocks the model predicts a perfect correlation of the budget balance and the trade balance. Yet, the effect of spending shocks on the trade balance is contained if an economy is not very open to trade. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycle Fiscal policy Openness Twin deficits |
| URL | https://cepr.org/publications/dp6511 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535349 |
| 推荐引用方式 GB/T 7714 | Thierry Verdier,Gani Aldashev. DP6511 Internationalization of NGOs and Competition on Markets forDevelopment Donations. 2007. |
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