Financial Frictions and Business Cycles in Middle-Income Countries /
A standard DSGE small open economy model can not generate the cyclical regularities of middle-income countries. It predicts excessive consumption smoothing, and procyclical, instead of countercyclical, real net exports. Previous studies have solved this problem by increasing the shocks' persist...
| Autor principal: | |
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
2008.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 2008/020 |
| Accés en línia: | Full text available on IMF |