| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17289 |
| 来源ID | Working Paper 17289 |
| The Extensive Margin, Sectoral Shares and International Business Cycles | |
| Michael B. Devereux; Viktoria Hnatkovska | |
| 发表日期 | 2011-08-11 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper documents some previously neglected features of sectoral shares at business cycle frequencies in OECD economies. In particular, we find that the nontraded sector share of output is as volatile as aggregate GDP, and that for most countries, the nontraded sector is distinctly countercyclical. While the standard international real business cycle model has difficulty in accounting for these properties of the data, an extended model which allows for sectoral adjustment along both the intensive and extensive margins does a much better job in replicating the volatilities and co-movements in the data. In addition, the model provides a closer match between theory and data with respect to the correlation between relative consumption growth and real exchange rate changes, a key measure of international risk-sharing. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w17289 |
| 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/574964 |
| 推荐引用方式 GB/T 7714 | Michael B. Devereux,Viktoria Hnatkovska. The Extensive Margin, Sectoral Shares and International Business Cycles. 2011. |
| 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 | ||
| w17289.pdf（345KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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