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Are Business Cycles Different in Asia and Latin America?

This paper compares business cycles in Asia and in Latin America using structural vector autoregression analysis with panel data. The evidence for countries in these regions suggests that (i) the main source of output fluctuations is supply shocks, even in the short run; (ii) the real exchange rate...

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Bibliographic Details
Main Author: Hoffmaister, Willy
Other Authors: Roldos, Jorge
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Balance Of Trade
Empirical Studies Of Trade
Supply Shocks
Economic Theory
Economic Policy
Prices
Agriculture: Aggregate Supply And Demand Analysis
Economic Theory & Philosophy
International Economics
Exports And Imports
Open Economy Macroeconomics
Diffusion Processes
Dynamic Treatment Effect Models
Real Exchange Rates
Terms Of Trade
State Space Models
Business Fluctuations
Currency
International Trade
Trade Balance
Foreign Exchange
Exchange Rates
Nternational Cooperation
Cycles
Time-series Models
Dynamic Quantile Regressions
Supply And Demand
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper compares business cycles in Asia and in Latin America using structural vector autoregression analysis with panel data. The evidence for countries in these regions suggests that (i) the main source of output fluctuations is supply shocks, even in the short run; (ii) the real exchange rate is driven mostly by fiscal shocks; and (iii) terms of trade shocks are important for trade balance fluctuations but not for output or real exchange rate fluctuations. However, in Latin America, as opposed to Asia, output is affected more by external and domestic demand shocks
Physical Description:49 pages
ISBN:9781451927313

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