Comments on “Pareto weights as wedges in two-country models” by D. Backus, C. Coleman, A. Ferriere and S. Lyon

Ayhan Kose

Journal of Economic Dynamics and Control, 2016, vol. 72, issue C, 111-114

Abstract: Backus, Coleman, Ferriere and Lyon study how the formulations of preferences and shocks affect the behavior of macroeconomic and financial aggregates in a simple endowment economy with no frictions. Their exercise could be considered as a first step of a rich research program that can further our understanding of international business cycles. After discussing the fundamental propagation mechanisms in standard international business cycle models, I put their contribution in a broader context. I conclude with a summary of possible research questions to be explored in future work.

Keywords: International business cycles Stochastic volatility; Recursive preferences (search for similar items in EconPapers)
JEL-codes: E32 F4 F41 F44 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:72:y:2016:i:c:p:111-114

DOI: 10.1016/j.jedc.2016.05.001

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