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Cointegrated TFP Processes and International Business Cycles.
A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the ""rest of the world, "" is characterized by a ve...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Tuesta, Vicente. | |
| 245 | 1 | 0 | |a Cointegrated TFP Processes and International Business Cycles. |
| 260 | |a Washington : |b International Monetary Fund, |c 2009. | ||
| 300 | |a 1 online resource (66 pages) | ||
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| 490 | 1 | |a IMF Working Papers ; |v v. Working Paper No. 09/212 | |
| 588 | 0 | |a Print version record. | |
| 520 | 3 | |a A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the ""rest of the world, "" is characterized by a vector error correction (VECM) and that adding cointegrated technology shocks to the standard IRBC model helps explaining the observed high real exchange rate volatility. Also we show that the observed increase of the real exchange rate volatility with respect to output in the last 20 year can be explained by changes in the parameter of the VECM. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Business cycles |x Econometric models. | |
| 650 | 0 | |a Foreign exchange rates |x Econometric models. | |
| 650 | 6 | |a Cycles économiques |x Modèles économétriques. | |
| 650 | 6 | |a Taux de change |x Modèles économétriques. | |
| 650 | 7 | |a Business cycles |x Econometric models |2 fast | |
| 650 | 7 | |a Foreign exchange rates |x Econometric models |2 fast | |
| 700 | 1 | |a Rubio-Ramirez, Juan F. | |
| 700 | 1 | |a Rabanal, Pau. | |
| 758 | |i has work: |a Cointegrated TFP processes and international business cycles (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGwxWR3ptDtGtpx9BMVJym |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Tuesta, Vicente. |t Cointegrated TFP Processes and International Business Cycles. |d Washington : International Monetary Fund, ©2009 |z 9781451873597 |
| 830 | 0 | |a IMF Working Papers. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608837 |z Texto completo |
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