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• W2999405183 abstract "Abstract I document cyclical behavior of real exchange rates (RERs) in emerging and developed economies: stronger RER procyclicality coincides with larger relative volatility of consumption and more countercyclical trade balance. I then reevaluate the sources of fluctuations in emerging economies using an international business cycle model estimated to match the behavior of the RERs. Interest rate shocks, without any frictions, account for most of output fluctuations. This result is driven by imperfect substitution between domestic and foreign goods, which dampens the impact of trend shocks and accentuates the impact of interest rate shocks on output and consumption." @default.
• W2999405183 created "2020-01-23" @default.
• W2999405183 creator A5070841810 @default.
• W2999405183 date "2020-03-09" @default.
• W2999405183 modified "2023-09-30" @default.
• W2999405183 title "INTERNATIONAL BUSINESS CYCLES IN EMERGING MARKETS" @default.
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• W2999405183 doi "https://doi.org/10.1111/iere.12439" @default.
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