International Business Cycles with Endogenous Incomplete Markets
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Backus, Kehoe and Kydland (1992), Baxter and Crucini (1995) and Stockman and Tesar (1995) find two major discrepancies between standard international business cycle models with complete markets and the data: In the models, cross-country correlations are much higher for consumption than for output,
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美国国家经济研究局创建时间：
2000-09-01
