G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12783
DP12783 BKK the EZ Way. International Long-Run Growth News and Capital Flows.
Mariano Massimiliano Croce; Ric Colacito
发表日期2018-03-08
出版年2018
语种英语
摘要We study the response of international investment flows to short- and long-run growth news. Among developed G7 countries, positive long-run news for domestic productivity induces a net outflow of investments, in contrast to the effects of short-run growth shocks. We document that a standard Backus, Kehoe, and Kydland (1994) (BKK) model fails to reproduce this novel empirical evidence. We augment this model with Epstein and Zin (1989) preferences (EZ-BKK) and characterize the resulting recursive risk-sharing scheme. The response of international capital flows in the EZ-BKK model is consistent with the data.
主题Financial Economics ; International Macroeconomics and Finance ; Macroeconomics and Growth
URLhttps://cepr.org/publications/dp12783
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/541592
推荐引用方式
GB/T 7714
Mariano Massimiliano Croce,Ric Colacito. DP12783 BKK the EZ Way. International Long-Run Growth News and Capital Flows.. 2018.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Mariano Massimiliano Croce]的文章
[Ric Colacito]的文章
百度学术
百度学术中相似的文章
[Mariano Massimiliano Croce]的文章
[Ric Colacito]的文章
必应学术
必应学术中相似的文章
[Mariano Massimiliano Croce]的文章
[Ric Colacito]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。