Title of article
Emergingmarketbusinesscycles:Learningaboutthetrend
Author/Authors
Emine Boz، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2011
Pages
16
From page
616
To page
631
Abstract
Emergingmarketbusinesscyclesfeatureahighervariabilityofconsumptionrelativeto
outputandastronglycountercyclicaltradebalance.Anequilibriumbusinesscycle
modelinwhichagentslearntodistinguishbetweenthepermanentandtransitory
componentsoftotalfactorproductivityshocksusingtheKalmanfilteraccountsfor
thesefeatures.CalibratedtoMexico,themodelaccountsforthebehaviorofconsump-
tion andthetradebalanceforawiderangeofvariabilityandpersistenceofpermanent
shocksrelativetotransitoryshocks.EstimationforMexicoandCanadasuggestsmore
severeinformationalfrictionsinemergingmarketsthanindevelopedeconomies
Journal title
Journal of Monetary Economics
Serial Year
2011
Journal title
Journal of Monetary Economics
Record number
846498
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