Interlinkage in the Endogenous Real Business Cycles of International Economies

Kazuo Nishimura and Makoto Yano ()
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Makoto Yano: Kyoto University

Chapter Chapter 5 in Nonlinear Dynamics in Equilibrium Models, 2012, pp 97-124 from Springer

Abstract: Abstract International trade interlinks the business cycles of trading countries, as it relates economic activities of agents in one country to those in another. In some cases, as a result of trade, a country’s business cycles may be spread throughout the world. In other cases, the same country’s business cycles may be erased. The present study explains this function of international trade, which has not been treated in the literature, from the viewpoint of endogenous real business cycles. For this purpose, we consider a perfect foresight equilibrium model with two countries and characterize the interlinkage of the two countries’ business cycles.

Keywords: Business Cycle; Accumulation Pattern; Equilibrium Path; Capital Input; Accumulation Path (search for similar items in EconPapers)
Date: 2012
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Journal Article: Interlinkage in the Endogenous Real Business Cycles of International Economies (1993)
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DOI: 10.1007/978-3-642-22397-6_5

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