Cointegrated TFP Processes and International Business Cycles.

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 ve...

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Bibliographic Details
Main Author: Tuesta, Vicente
Other Authors: Rubio-Ramirez, Juan F., Rabanal, Pau
Format: eBook
Language:English
Published: Washington : International Monetary Fund, 2009.
Series:IMF Working Papers.
Subjects:
Business cycles > Econometric models.
Foreign exchange rates > Econometric models.
Business cycles > Econometric models
Foreign exchange rates > Econometric models
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