Are Asian Business Cycles Different?

Yongseung Jung (), Soyoung Kim, Doo Yong Yang and Tack Yun ()
Additional contact information
Yongseung Jung: Department of Economics, Kyung Hee University

Asian Economic Papers, 2013, vol. 12, issue 3, 94-113

Abstract: This paper studies the unusual features of emerging economy business cycles in Asia. When we assess whether approaches from the previous literature can explain Asian business cycles, we conclude that standard models based on permanent growth shocks do not replicate key features of Asian business cycles. The evidence suggests that different transmission mechanisms explain the connections between consumption, net exports, and export or import in Latin America and Asia. For evidence of a special transmission mechanism, we study durable goods business cycles in Asia (Korea), noting that strong pro-cyclical durable goods consumption may be explained by the export-income channel coupled with market laddering by which firms have expanded the variety and quality of their durable goods production. © 2013 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Keywords: business cycles; Asia (search for similar items in EconPapers)
JEL-codes: E32 N15 (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.mitpressjournals.org/doi/pdf/10.1162/ASEP_a_00224 link to full text PDF (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Are Asian Business Cycles Different? (2011)
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: https://EconPapers.repec.org/RePEc:tpr:asiaec:v:12:y:2013:i:3:p:94-113

Ordering information: This journal article can be ordered from
https://mitpressjour ... rnal/?issn=1535-3516

Access Statistics for this article

Asian Economic Papers is currently edited by Wing Thye Woo, Sungbae An, Fukunari Kimura and Ming Lu

More articles in Asian Economic Papers from MIT Press
Bibliographic data for series maintained by The MIT Press ().