Demand-Driven Business Cycles: Explaining Domestic and International Comovements

Yi Wen

Working Papers from Cornell University, Center for Analytic Economics

Abstract: When capacity utilization is allowed to vary, standard equilibrium theory predicts that demand shocks can generate not only closed-economy business cycles that are previously thought explainable only by technology shocks, but also international business cycles that are more consistent with the data than what can be generated by technology shocks.

JEL-codes: E13 E32 F11 F41 (search for similar items in EconPapers)
Date: 2001-04
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ecl:corcae:01-18

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