International Transmission with Heterogeneous Sectors

被引：3

作者：

Jin, Keyu ^{[1
]}

Li, Nan ^{[2
]}

机构：

[1] London Sch Econ, Dept Econ, Houghton St, London WC2A 2AE, England

[2] Int Monetary Fund, Res Dept, 700 19th St NW, Washington, DC 20431 USA

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2018年 / 10卷 / 04期

关键词：

REAL EXCHANGE-RATES; BUSINESS CYCLES; INCOMPLETE MARKETS; NONTRADED GOODS; TRADE; CONSUMPTION; RISK; PRODUCTIVITY; DYNAMICS; SHOCKS;

D O I：

10.1257/mac.20150379

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper documents new facts about the behavior of capital- and labor-intensive goods over the business cycle and also identifies a mechanism that generates international investment co-movement through shifting compositional changes of production and trade across sectors. Our model's quantitative predictions not only match aggregate and sectoral statistics but also generate empirically plausible sectoral composition effects. Finally, we show that essential segments of the transmission process receive empirical support.

引用

页码：36 / 76

页数：41

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