International Real Business Cycles of the Chinese Economy: Asymmetric Preference, Incomplete Financial Markets, and Terms of Trade Shocks

2018 ◽  
Vol 55 (9) ◽  
pp. 1926-1953
Author(s):  
Qing Han
Keyword(s):  
Business Cycles ◽  
Financial Markets ◽  
Terms Of Trade ◽  
Chinese Economy ◽  
Real Business Cycles ◽  
Trade Shocks ◽  
Incomplete Financial Markets ◽  
International Real Business Cycles

scholarly journals International Real Business Cycles

1992 ◽  
Vol 100 (4) ◽  
pp. 745-775 ◽  
Author(s):  
David K. Backus ◽  
Patrick J. Kehoe ◽  
Finn E. Kydland
Keyword(s):  
Business Cycles ◽  
Real Business Cycles ◽  
International Real Business Cycles

scholarly journals Terms-of-Trade Shocks are Not all Alike

2020 ◽  
Vol 20 (280) ◽  
Author(s):  
Federico Di Pace ◽  
Luciana Juvenal ◽  
Ivan Petrella
Keyword(s):  
Developing Countries ◽  
Business Cycles ◽  
Economic Activity ◽  
Export Price ◽  
Import Price ◽  
Terms Of Trade ◽  
Price Shocks ◽  
Import Prices ◽  
Trade Shocks ◽  
Output Fluctuations

When analyzing terms-of-trade shocks, it is implicitly assumed that the economy responds symmetrically to changes in export and import prices. Using a sample of developing countries our paper shows that this is not the case. We construct export and import price indices using commodity and manufacturing price data matched with trade shares and separately identify export price, import price, and global economic activity shocks using sign and narrative restrictions. Taken together, export and import price shocks account for around 40 percent of output fluctuations but export price shocks are, on average, twice as important as import price shocks for domestic business cycles.

scholarly journals Terms of Trade, Intermediate Goods and International Real Business Cycles: Australia Case

2004 ◽  
Vol 5 (2) ◽  
pp. 95-111
Author(s):  
Jai Hyung Yoon ◽  
Francis In Yoon
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Open Economy ◽  
Manufacturing Sector ◽  
Dominant Role ◽  
Small Open Economy ◽  
Terms Of Trade ◽  
Intermediate Goods ◽  
Real Business Cycles ◽  
Productivity Shock

This paper examines whether a two-sector business cycle model with intermediate and import goods successfully replicates stylized facts of the international real business cycle in a small open economy. Our model incorporates the neoclassical framework, with productivity shocks in both manufacturing and non-manufacturing sectors, terms of trade shock, import goods and intermediate goods. Our model is able to mimic the important features of business cycles in Australia. The productivity shock of the non-manufacturing sector has a dominant role in a small open economy's business cycle. The productivity shock of the non-manufacturing sector increases imports more than exports.

scholarly journals International Real Business Cycles

1991 ◽  
Author(s):  
David Backus ◽  
Patrick J. Kehoe ◽  
Finn E. Kydland
Keyword(s):  
Business Cycles ◽  
Real Business Cycles ◽  
International Real Business Cycles

scholarly journals International Real Business Cycles

1991 ◽  
Author(s):  
Patrick J. Kehoe ◽  
David K. Backus ◽  
Finn Kydland
Keyword(s):  
Business Cycles ◽  
Real Business Cycles ◽  
International Real Business Cycles
Sign in / Sign up

Export Citation Format

Share Document