Medium Term Business Cycles in Developing Countries

被引：18

作者：

Comin, Diego ^{[1
,2
,3
]}

Loayza, Norman ^{[4
]}

Pasha, Farooq ^{[5
]}

Serven, Luis ^{[4
]}

机构：

[1] Dartmouth Coll, Dept Econ, Hanover, NH 03755 USA

[2] NBER, Cambridge, MA 02138 USA

[3] CEPR, London, England

[4] World Bank, Washington, DC 20433 USA

[5] State Bank Pakistan, Karachi, Pakistan

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2014年 / 6卷 / 04期

基金：

美国国家科学基金会;

关键词：

INTERNATIONAL-TRADE; INVESTMENT; PRODUCTIVITY; SHOCKS;

D O I：

10.1257/mac.6.4.209

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We study the transmission of business cycle fluctuations for developed (N) to developing economies (S) with a two-country, asymmetric, DSGE model with endogenous development of new technologies in N, and sunk costs of exporting and transferring the production of the intermediate goods to S. Consistent with the data, the flow of technologies from N to S co-moves positively with output in N and S; shocks to N have a large effect on S; business cycles in N lead over medium term fluctuations in S; the cross-correlation of outputs is larger than consumption; and interest rates in S are countercyclical.

引用

页码：209 / 245

页数：37

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