Business Cycles in Emerging Markets : the Role of Durable Goods and Financial Frictions.
This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks. In the data, nondurable consumption is not as volatile as income for both developed and emerging market economies. The simulation of the mo...
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| Corporate Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2011.
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| Series: | IMF Working Papers ;
Working Paper no. 11/133. |
| Subjects: | |
| Online Access: | CONNECT |
