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international business cycle

international business cycle latest publications

August 3, 2016

Trends & Cycles in Small Open Economies:Making the Case for a General Equilibrium Approach

This approach is characterized by two key assumptions. The first is that the world interest rate is unaffected by economic developments in the small open economy, an exogeneity assumption. The second assumption is that this exogenous interest rate combined with domestic productivity is sufficient to describe equilibrium cho…

March 6, 2015

Can international macroeconomic models explain low-frequency movements of real exchange ra…

Real exchange rates exhibit important low-frequency ‡ fluctuations. This makes the analysis of real exchange rates at all frequencies a more sound exercise than the typical business cycle one, which compares actual and simulated data after the Hodrick-Prescott …lter is applied to both. A simple two-country, two-good, intern…