Medium Term Business Cycles in Developing Countries
Copyright policy )Medium Term Business Cycles in Developing Countries
We study the transmission of business cycle fluctuations for developed (N) to developing economies (S) with a two-country, asymmetric, DSGE model with endogenous development of new technologies in N, and sunk costs of exporting and transferring the production of the intermediate goods to S. Consistent with the data, the flow of technologies from N to S co-moves positively with output in N and S; shocks to N have a large effect on S; business cycles in N lead over medium term fluctuations in S; the cross-correlation of outputs is larger than consumption; and interest rates in S are countercyclical. (JEL E13, E32, F14, F21, F32, O19, O33)
- Harvard University United States
- Dartmouth College United States
- State Bank of Pakistan Pakistan
- World Bank United States
- Boston College United States
330, business cycles in developing countries; co-movement between developed and developing economies; extensive margin of trade; FDI; product life cycle; volatility, business cycle, capital movements, diffusion processes, Economic Theory&Research,Political Economy,Emerging Markets,Debt Markets,Markets and Market Access, Neoclassical aggregative model, Business Cycles in Developing Countries, Co-movement between Developed and Developing economies, Volatility, Extensive Margin of Trade, Product Life Cycle, FDI., trade, jel: jel:F21, jel: jel:E3, jel: jel:E32, jel: jel:F32, jel: jel:F14, jel: jel:O3, jel: jel:E13, jel: jel:F1, jel: jel:F2, jel: jel:O33, jel: jel:F4, jel: jel:O19
330, business cycles in developing countries; co-movement between developed and developing economies; extensive margin of trade; FDI; product life cycle; volatility, business cycle, capital movements, diffusion processes, Economic Theory&Research,Political Economy,Emerging Markets,Debt Markets,Markets and Market Access, Neoclassical aggregative model, Business Cycles in Developing Countries, Co-movement between Developed and Developing economies, Volatility, Extensive Margin of Trade, Product Life Cycle, FDI., trade, jel: jel:F21, jel: jel:E3, jel: jel:E32, jel: jel:F32, jel: jel:F14, jel: jel:O3, jel: jel:E13, jel: jel:F1, jel: jel:F2, jel: jel:O33, jel: jel:F4, jel: jel:O19
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