G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8574
DP8574 Medium Term Business Cycles in Developing Countries
Luis Servén; Norman Loayza; diego comin; Farooq Pasha
发表日期2011-09-01
出版年2011
语种英语
摘要Business cycle fluctuations in developed economies (N) tend to have large and persistent effects on developing countries (S). We study the transmission of business cycle fluctuations for developed to developing economies with a two-country asymmetric DSGE model with two features: (i) endogenous and slow diffusion of technologies from the developed to the developing country, and (ii) adjustment costs to investment flows. Consistent with the model we observe that the flow of technologies from N to S co-moves positively with output in both N and S. After calibrating the model to Mexico and the U.S., it can explain the following stylized facts: (i) U.S. and Mexican output co-move more than consumption; (ii) U.S. shocks have a larger effect on Mexico than in the U.S.; (iii) U.S. business cycles lead over medium term fluctuations in Mexico; (iv) Mexican consumption is more volatile than output.
主题Development Economics ; International Macroeconomics ; International Trade and Regional Economics
关键词Business cycles in developing countries Co-movement between developed and developing economies Volatility Extensive margin of trade Product life cycle Fdi
URLhttps://cepr.org/publications/dp8574
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/537411
推荐引用方式
GB/T 7714
Luis Servén,Norman Loayza,diego comin,et al. DP8574 Medium Term Business Cycles in Developing Countries. 2011.
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