Journal of Political Economy Vol. 100 No. 4 1992
International Real Business Cycles
Abstract
The authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the model they see the opposite.
- DOI
- 10.1086/261838
- Volume
- 100
- Issue
- 4
- Pages
- 745-775
- Language
- en
- Sources
- crossref openalex