Cointegrated TFP Processes and International Business Cycles / / Vicente Tuesta, Juan Rubio-Ramirez, Pau Rabanal
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| Autore: |
Tuesta Vicente
|
| Titolo: |
Cointegrated TFP Processes and International Business Cycles / / Vicente Tuesta, Juan Rubio-Ramirez, Pau Rabanal
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Descrizione fisica: | 53 p. : ill |
| Soggetto topico: | Business cycles - Econometric models |
| Foreign exchange rates - Econometric models | |
| Econometrics | |
| Foreign Exchange | |
| Macroeconomics | |
| Production and Operations Management | |
| Production | |
| Cost | |
| Capital and Total Factor Productivity | |
| Capacity | |
| Multiple or Simultaneous Equation Models | |
| Multiple Variables: General | |
| Macroeconomics: Consumption | |
| Saving | |
| Wealth | |
| Environment and Growth | |
| Currency | |
| Foreign exchange | |
| Econometrics & economic statistics | |
| Economic growth | |
| Real exchange rates | |
| Total factor productivity | |
| Vector error correction models | |
| Consumption | |
| Sustainable growth | |
| Industrial productivity | |
| Econometric models | |
| Economics | |
| Economic development | |
| Soggetto geografico: | United States |
| Altri autori: |
Rubio-RamirezJuan
RabanalPau
|
| Note generali: | "September 2009." |
| Sommario/riassunto: | 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 vector error correction (VECM) and that adding cointegrated technology shocks to the standard IRBC model helps explaining the observed high real exchange rate volatility. Also we show that the observed increase of the real exchange rate volatility with respect to output in the last 20 year can be explained by changes in the parameter of the VECM. |
| Titolo autorizzato: | Cointegrated TFP Processes and International Business Cycles |
| ISBN: | 1-4623-7796-3 |
| 1-4518-7359-X | |
| 1-4527-5510-8 | |
| 1-282-84418-0 | |
| 9786612844188 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788226303321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2009/212