Emerging Market Business Cycles: The Cycle is the Trend

Preprint, Article OPEN
Aguiar, Mark; Gopinath, Gita;
  • Publisher: University of Chicago Press
  • Identifiers: doi: 10.1086/511283
  • Subject: Emerging markets ; Business cycles
    • jel: jel:F4

Business cycles in emerging markets are characterized by strongly counter-cyclical current accounts, consumption volatility that exceeds income volatility, and dramatic “sudden stops” in capital inflows. These features contrast with those of developed, small open econom... View more
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