International business cycles, financial markets and household production

Fabio Canova and Angel Ubide

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: This paper investigates the properties of an international real business cycle model with household production. We show that a model with disturbances to both market and household technologies reproduces the main regularities of the data and improves existing models in matching international consumption, investment and output correlations without irrealistic assumptions on the structure of international financial markets. Sensitivity analysis shows the robustness of the results to alternative specifications of the stochastic processes for the disturbances and to variations of unmeasured parameters within a reasonable range.

Keywords: Household production; international business cycles; taste shocks; consumption correlations (search for similar items in EconPapers)
JEL-codes: C68 E32 F41 (search for similar items in EconPapers)
Date: 1997-01
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Citations: View citations in EconPapers (4)

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Journal Article: International business cycles, financial markets and household production (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:204

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