Business cycles through international shocks: A structural investigation

Hakan Yilmazkuday

Economics Letters, 2012, vol. 115, issue 3, 329-333

Abstract: This paper investigates the sources of output volatility by decomposing the international shocks into finance and trade shocks. Through structural Bayesian estimations of an open-economy DSGE model on 16 countries, on average, international shocks explain around 70% of output fluctuations.

Keywords: Business cycles; International shocks; Trade costs (search for similar items in EconPapers)
JEL-codes: E32 E52 F41 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:3:p:329-333

DOI: 10.1016/j.econlet.2011.12.057

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