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Business Cycles in Emerging Markets

2011-06-01 Business & Economics
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Release : 2011-06-01
Genre : Business & Economics
Kind : eBook
Book Rating : 381/5 ( reviews)

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Book Synopsis Business Cycles in Emerging Markets by : International Monetary Fund

Download or read book Business Cycles in Emerging Markets written by International Monetary Fund. This book was released on 2011-06-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks. In the data, nondurable consumption is not as volatile as income for both developed and emerging market economies. The simulation of the model implies that shocks to trend play a less important role than previously documented. Financial frictions improve the ability of the model to match some key business cycle properties of emerging economies. A countercyclical borrowing premium interacts with the nature of durable goods delivering highly volatile consumption and very countercyclical net exports.

Emerging Market Business Cycles

2012-10-09 Business & Economics
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Release : 2012-10-09
Genre : Business & Economics
Kind : eBook
Book Rating : 49X/5 ( reviews)

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Book Synopsis Emerging Market Business Cycles by : Ms.Emine Boz

Download or read book Emerging Market Business Cycles written by Ms.Emine Boz. This book was released on 2012-10-09. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical interest rate shocks can jointly account for these regularities. In the face of countercyclical interest rate shocks, search-matching frictions increase future employment uncertainty, improving workers’ incentive to save and generating a greater response of consumption and the current account. Higher consumption response in turn feeds into larger fluctuations in the workers’ bargaining power while the interest rates shocks lead to variations in the firms’ willingness to hire; both of which contribute to a highly variable real wage.

Emerging Market Business Cycles

2004 Business cycles
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Release : 2004
Genre : Business cycles
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Emerging Market Business Cycles by : Mark Aguiar

Download or read book Emerging Market Business Cycles written by Mark Aguiar. This book was released on 2004. Available in PDF, EPUB and Kindle. Book excerpt: Explores "whether a standard real business cycle model can qualitatively and quantitatively explain business cycle features of both emerging and developed small open economies." - introduction.

Emerging Market Business Cycles

2008
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Release : 2008
Genre :
Kind : eBook
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Book Synopsis Emerging Market Business Cycles by : Mark Aguiar

Download or read book Emerging Market Business Cycles written by Mark Aguiar. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt: Emerging market business cycles exhibit strongly countercyclical current accounts, consumption volatility that exceeds income volatility, and quot;sudden stopsquot; in capital inflows. These features contrast with developed small open economies. Nevertheless, we show that a standard model characterizes both types of markets. Motivated by the frequent policy regime switches observed in emerging markets, our premise is that these economies are subject to substantial volatility in trend growth. Our methodology exploits the information in consumption and net exports to identify the persistence of productivity. We find that shocks to trend growth--rather than transitory fluctuations around a stable trend--are the primary source of fluctuations in emerging markets. The key features of emerging market business cycles are then shown to be consistent with this underlying income process in an otherwise standard equilibrium model.

Business Cycles

2010 Business & Economics
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Release : 2010
Genre : Business & Economics
Kind : eBook
Book Rating : 785/5 ( reviews)

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Book Synopsis Business Cycles by : Sumru G. Altug

Download or read book Business Cycles written by Sumru G. Altug. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt: This title provides an overview of the modern theory and empirics of business cycles. The book examines the notion of a business cycle and discusses alternative approaches to modelling. It also discusses what lies ahead for modern business cycle theory.

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