Domestic, Foreign or Common Shocks? /
A stochastic general equilibrium model of the world economy is used to analyze the origin of international business cycles using data for Germany, Japan and the United States. The findings indicate that after 1973, common shocks play a major role in accounting for similarities in output fluctuations...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1996.
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| Series: | IMF Working Papers; Working Paper ;
No. 1996/107 |
| Online Access: | Full text available on IMF |