| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15123 |
| 来源ID | Working Paper 15123 |
| Globally Correlated Nominal Fluctuations | |
| Espen Henriksen; Finn E. Kydland; Roman Sustek | |
| 发表日期 | 2009-07-09 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Cyclical fluctuations in nominal variables--aggregate price levels and nominal interest rates--are documented to be substantially more synchronized across countries than cyclical fluctuations in real output. A transparent mechanism that can account for this striking feature of the nominal environment is highlighted. It is based on (small) cross-country spillovers of shocks and an interaction between Taylor rules and no-arbitrage conditions. The mechanism is quantitatively important for a wide range of plausible parameterizations and is found to be robust to modifications of the economic environment that help account for other important features of domestic and international aggregate fluctuations. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w15123 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572798 |
| 推荐引用方式 GB/T 7714 | Espen Henriksen,Finn E. Kydland,Roman Sustek. Globally Correlated Nominal Fluctuations. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15123.pdf（337KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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