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Domestic, Foreign or Common Shocks?

A stochastic general equilibrium model of the world economy is used to analyze the origin of international business cycles using data for Germany, Japan and the United States. The findings indicate that after 1973, common shocks play a major role in accounting for similarities in output fluctuations...

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Bibliographic Details
Main Author: Fabrizio, Stefania
Other Authors: Lopez, J.
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1996
Series:IMF Working Papers
Subjects:
Business Cycles
Wealth
Economics
Econometric Analysis
Dynamic Treatment Effect Models
Productivity
Trade: Other
Saving
Model Evaluation And Selection
Production
Industrial Productivity
Trade: General
Exports And Imports
Diffusion Processes
International Economics
National Accounts
Vector Autoregression
Time-series Models
Macroeconomics: Production
Cycles
International Trade
Economic Growth
Consumption
Macroeconomics
Macroeconomics: Consumption
Business Fluctuations
Prices, Business Fluctuations, And Cycles: General (includes Measurement And Data)
Econometrics
Dynamic Quantile Regressions
Econometrics & Economic Statistics
Imports
Production And Operations Management
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:A stochastic general equilibrium model of the world economy is used to analyze the origin of international business cycles using data for Germany, Japan and the United States. The findings indicate that after 1973, common shocks play a major role in accounting for similarities in output fluctuations. However, trade interdependencies with the United States may have also played a very important role; more than 20 percent of output fluctuations of the German and Japanese economies could have been imported from the United States
Physical Description:22 pages
ISBN:9781451852936

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