Autore
Canova, Fabio

Titolo
Sources and propagation of international business cycles: common shocks or transmission?
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1993 - Fascicolo: 25 - Pagina iniziale: 1 - Pagina finale: 38

This paper studies the generation and transmission of international business cycles in a multi-country model with production and consumption interdependencies. Two sources of disturbance are considered and three channels for propagation of shocks are compared. Simulations are performed for symmetric countries and for countries that differ either in preferences, technologies, fiscal policies or exogenous processes. Production interdependences determine to a large extent how technology shocks are propagated while consumption interdependencies largely account for the transmission of government shocks. Technology shocks, which are mildly correlated across countries, are more successful than government expenditure shocks in reproducing actual data.



Testo completo: http://hdl.handle.net/1814/466

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