.png){kind=icon}
返回
Trend shocks and economic development
.png){kind=icon}
OA
AI
DOI：10.1016/j.jdeveco.2013.01.004.png)
.png){kind=icon}
.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
This article explores the role of trend shocks in explaining the specificities of business cycles in developing countries using the methodology introduced by Aguiar and Gopinath (2007). We specify a small open economy model with transitory and trend shocks on productivity to replicate the differences in the business cycle behavior observed between developed, emerging, and Sub-Saharan Africa countries. Our results suggest a strong relationship between the weight of trend shocks in the source of fluctuations and the level of economic development. The weight of trend shocks is (i) higher in Sub-Saharan Africa countries than in emerging and developed countries, (ii) negatively correlated with the level of income, the quality of institutions, and the size of the credit market, and (iii) uncorrelated with the volatility of aid received by countries, the inflation rate, and the trend in trade-openness. (C) 2013 Elsevier B.V. All rights reserved.
Keyword:
Business cycle
Permanent shocks
Growth
Africa
Small open economy
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
4.6
论文数:
4.1K
被引数:
1.6W
机构
引用论文
分享收藏The colonial origins of comparative development: An empirical investigation比较发展的殖民起源: 实证研究.png)
AMERICAN ECONOMIC REVIEW
AMERICAN ECONOMIC REVIEWIF11.6
PREAI
分享收藏
分享收藏
查看更多内容