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International Business Cycles with Endogenous Incomplete Markets

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NBER2000-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w7870
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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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2000-09-01
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