| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9367 |
| DP9367 Commodity prices and the business cycle in Latin America: Living and dying by commodities? | |
| Gabriel Pérez-Quirós; Máximo Camacho | |
| 发表日期 | 2013-02-24 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We analyze the dynamic interactions between commodity prices and output growth of the seven greatest exporters Latin American countries: Argentina, Brazil, Colombia, Chile, Mexico, Peru and Venezuela. Using a novel definition of Markov-switching impulse response functions, we find that the responses of their respective output growths to commodity price shocks are time dependent, size dependent and sign dependent. Overall, the major evidence of asymmetries in output growth responses occurs when commodity price shocks lead to regime shifts. Accordingly, we consider that the design of optimal counter-cyclical stabilization policies in this region should take into account that the reactions of the economic activity vary considerably across business cycle regimes. |
| 主题 | International Macroeconomics |
| 关键词 | Emerging markets Non linearities |
| URL | https://cepr.org/publications/dp9367 |
| 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/538203 |
| 推荐引用方式 GB/T 7714 | Gabriel Pérez-Quirós,Máximo Camacho. DP9367 Commodity prices and the business cycle in Latin America: Living and dying by commodities?. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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