Explaining International Comovements of Output and Asset Returns : The Role of Money and Nominal Rigidities /

Empirically, output and asset returns are highly positively correlated across the United States and the other major industrialized countries. Standard business cycle models that assume flexible prices and wages, in the Real Business Cycle tradition, have great difficulties explaining this fact. This...

Полное описание

Библиографические подробности
Главный автор: Kollman, Robert
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 1999.
Серии:IMF Working Papers; Working Paper ; No. 1999/084
Online-ссылка:Full text available on IMF

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