Name: International Finance Discussion Papers: Technology Shocks: Novel Implications for International Business Cycles (en Inglés)
Price: 537.47 MXN
Availability: InStock
Author: Raffo, Andrea ; United States Federal Reserve Board
ISBN: 9781288725045

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portada International Finance Discussion Papers: Technology Shocks: Novel Implications for International Business Cycles (en Inglés)

Formato

Libro Físico

Autor

United States Federal Reserve Board

Andrea Raffo

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6 x 18.9 x 0.3 cm

Peso

0.12 kg.

ISBN13

9781288725045

Categorías

Política y gobierno

International Finance Discussion Papers: Technology Shocks: Novel Implications for International Business Cycles (en Inglés)

United States Federal Reserve Board (Autor) · Andrea Raffo (Autor) · Bibliogov · Tapa Blanda

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Reseña del libro "International Finance Discussion Papers: Technology Shocks: Novel Implications for International Business Cycles (en Inglés)"

Understanding the joint dynamics of international prices and quantities remains a central issue in international business cycles. International relative prices appreciate when domestic consumption and output increase more than their foreign counterparts. In addition, both trade flows and trade prices display sizable volatility. This paper incorporates Hicks-neutral and investment-specific technology shocks into a standard two-country general equilibrium model with variable capacity utilization and weak wealth effects on labor supply. Investment-specific technology shocks introduce a source of fluctuations in absorption similar to taste shocks, thus reconciling theory and data. The paper also presents implications for the transmission mechanism of technology shocks across countries and for the Barro and King (1984) critique of investment shocks.