A spectral analysis of the cross-country consumption correlation puzzle

Michael Pakko ()

No 2003-023, Working Papers from Federal Reserve Bank of St. Louis

Abstract: Dynamic general equilibrium models predict high cross-country consumption correlations, whereas the data show that output correlations tend to be higher. Spectral decomposition reveals that this ranking varies across frequency bands, with consumption correlations often exceeding output correlations at higher frequencies.

Keywords: Business cycles; Consumption (Economics) (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-ets
Date: 2004
View list of references View citations in EconPapers

Published in Economics Letters, September 2004, 84(3), pp. 341-347

Downloads: (external link)
http://research.stlouisfed.org/wp/2003/2003-023.pdf (application/pdf)

Related works:
Journal Article: A spectral analysis of the cross-country consumption correlation puzzle (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:fip:fedlwp:2003-023

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Papers from Federal Reserve Bank of St. Louis
Contact information at EDIRC.
Series data maintained by Diane Rosenberger ().