International business cycles

S. Ahmed, Barry William Ickes, Wang Ping Wang, Sam Yoo Byung Sam Yoo

Research output: Contribution to journalArticle

117 Citations (Scopus)

Abstract

We estimate a dynamic two-country model in which economic fluctuations are driven by a worldwide supply shock, country-specific supply shocks, and relative fiscal, money, and preference shocks. Identification is achieved using only long-run restrictions, based on a theoretical model. The main results, are: supply shocks, particularly country-specific ones, are very important in generating international business cycles, although the post-1973 flexible-exchange-rate period has been inherently more volatile, there are no differences in transmission properties of economic disturbances across exchange-rate regimes for the endogenous variables we focus on. -Authors

Original languageEnglish (US)
Pages (from-to)335-359
Number of pages25
JournalAmerican Economic Review
Volume83
Issue number3
StatePublished - Jan 1 1993

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Supply shocks
International business cycles
Endogenous variables
Exchange rate regimes
Flexible exchange rates
Two-country model
Long-run restrictions
Fiscal
Economic fluctuations
Economics

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Cite this

Ahmed, S., Ickes, B. W., Ping Wang, W., & Byung Sam Yoo, S. Y. (1993). International business cycles. American Economic Review, 83(3), 335-359.
Ahmed, S. ; Ickes, Barry William ; Ping Wang, Wang ; Byung Sam Yoo, Sam Yoo. / International business cycles. In: American Economic Review. 1993 ; Vol. 83, No. 3. pp. 335-359.
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Ahmed, S, Ickes, BW, Ping Wang, W & Byung Sam Yoo, SY 1993, 'International business cycles', American Economic Review, vol. 83, no. 3, pp. 335-359.

International business cycles. / Ahmed, S.; Ickes, Barry William; Ping Wang, Wang; Byung Sam Yoo, Sam Yoo.

In: American Economic Review, Vol. 83, No. 3, 01.01.1993, p. 335-359.

Research output: Contribution to journalArticle

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Ahmed S, Ickes BW, Ping Wang W, Byung Sam Yoo SY. International business cycles. American Economic Review. 1993 Jan 1;83(3):335-359.