Medium term business cycles in developing countries
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Contributions
- Harvard Business School - Contributor
Publication
2009 - Harvard Business School, Boston, Massachusetts
Language
English
Word Count
9,750 words, Guess
Page Count
39 pages
Identifiers
- OCLC Control Number542580923
- OCLC Control Number542580922
- Open LibraryOL45198628M
Description
We build a two country asymmetric DSGE model with two features: (i) a product cycle structure determines the range of intermediate goods used to produce new capital in each country and (ii) there are investment flow adjustment costs in the developing economy. We calibrate the model to match the Mexico-US trade and FDI flows. The model is able to explain (i) why US shocks have a larger effect on Mexico than in the US and hence why the Mexican economy is more volatile than the US; (ii) why US business cycles lead over medium term fluctuations in Mexico and (iii) why Mexican consumption is not less volatile than output.
Subjects
Series Statement
- Working paper / Harvard Business School -- 10-029
Other Editions
- Medium term business cycles in developing countries
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