Business Cycles in Emerging Economies: The Role of Interest Rates
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We find that in a sample of emerging economies business cycles are more volatile than in developed ones, real interest rates are countercyclical and lead the cycle, consumption is more volatile than output and net exports are strongly countercyclical. We present a model of a small open economy,
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美国国家经济研究局创建时间：
2004-03-01
