Cointegrated TFP Processes and International Business Cycles /
A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the "rest of the world," is characterized by a vector error co...
| מחבר ראשי: | |
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| מחברים אחרים: | , |
| פורמט: | כתב-עת |
| שפה: | English |
| יצא לאור: |
Washington, D.C. :
International Monetary Fund,
2009.
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| סדרה: | IMF Working Papers; Working Paper ;
No. 2009/212 |
| גישה מקוונת: | Full text available on IMF |