Business Cycles around the Globe: Structural Estimation

Attila Rátfai, Péter Benczúr

    Research output: Working paper/PreprintWorking paper

    Abstract (may include machine translation)

    We document massive heterogeneity in basic cyclical patterns between (and within) groups of developed and emerging market economies. In order to evaluate the relative importance of shocks vs. financial frictions in explaining cross-country heterogeneities in the business cycle, we then estimate a canonical small open
    economy model of the business cycle. Finally, we quantify to what extent fluctuations are due to differences in shocks to productivity, or financial propagation.
    Original languageEnglish
    Place of PublicationBudapest
    PublisherCentral European University (CEU)
    StatePublished - 2012

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