Understanding the Cross Country Eects of US Technology Shocks
Year: 2014
Type: preprint
Abstract: Business cycles are substantially correlated across countries. Yet, most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply and labor demand to international relative prices. We augment a standard international macroeconomic model to incorporate three key features: a weak short run wealth eect on labor
Source: SSRN Electronic Journal
Authors: Wataru Miyamoto, Thuy Lan Nguyen
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2189069825