International transmission with heterogeneous sectors
Keyu Jin and
LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library
This paper documents new facts about the behavior of capital- and labor-intensive goods over the business cycle and also identifies a mechanism that generates international investment comovement through shifting compositional changes of production and trade across sectors. Our model’s quantitative predictions not only match aggregate and sectoral statistics but also generate empirically plausible sectoral composition effects. Finally, we show that essential segments of the transmission process receive empirical support.
Keywords: International Business Cycles; International Comovement; Relative Prices; Factor proportions trade (search for similar items in EconPapers)
JEL-codes: F41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-int and nep-mac
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Published in American Economic Journal: Macroeconomics, 1, October, 2018. ISSN: 1945-7707
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:88189
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