The International Transmission of Real Business Cycles
作者： Frédérique Bec
DOI: 10.1007/978-3-642-57817-5_5
关键词: Business cycle 、 Consumption (economics) 、 International economics 、 Econometrics 、 Economics 、 Order (exchange) 、 Marginal utility 、 Balance of trade 、 Index (economics) 、 Total factor productivity 、 Investment (macroeconomics)
摘要: This paper develops a simple one-sector, two-country equilibrium model which accounts for the relatively low cross-country consumption correlations without damaging areas of success existing models. improvement arises from modification index in order to add public private preferences agents, allows shocks government purchases alter marginal utility consumption. explains quite well both high correlation between saving and investment counter-cyclically net exports. However, only strong cross-correlation home foreign technology enables mimic crosscountry output.
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