Arbeitspapier
Stylized Facts and International Business Cycles - The German Case
This paper studies the business cycle in Germany using the HP-filter (Hodrick/Prescott (1997)) to isolate the cyclical component. A two-country International Business Cycle model in line with Baxter/Crucini (1995) is built to explain these facts. The combination of GHH-preferences with taste shocks resulting from government consumption is shown to be an important feature of the German business cycle. A VAR model for the exogenous variables is estimated that enables the model not only to account well for the observed positive international correlations of outputs, consumptions and savings but also for their lead-lag relationship. Hours worked and investments are positively correlated in this model - a property not realized in other single-good models of the International Business Cycle in the literature.
- Sprache
-
Englisch
- Erschienen in
-
Series: Volkswirtschaftliche Diskussionsbeiträge ; No. 69-98
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Open Economy Macroeconomics
- Thema
-
International Real Business Cycles
Stylized Facts
GHH-preferences
Konjunktur
Real Business Cycle
Konjunkturzusammenhang
Schätzung
Deutschland
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gail, Michael
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
- (wo)
-
Siegen
- (wann)
-
1998
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gail, Michael
- Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
Entstanden
- 1998
Ähnliche Objekte (12)
Measuring stylized business cycles facts using stochastic cycles
Nominal Stylized Facts of Turkish Business Cycles
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Descriptive studies on stylized facts of the German business cycle
Descriptive Studies on Stylized Facts of the German Business Cycle
The dynamics of business cycles : stylized facts, economic theory, econometric methodology and applications
Business cycles : an international comparison of stylized facts in a historical perspective ; with 45 tables
Stylized Facts of Business Cycles, Excess Volatility and Capital Flows : Evidence from Mexico and Turkey
Has India emerged? Business cycle stylized facts from a transitioning economy
Stylized facts of the business cycle: Universal phenomenon, or institutionally determined?
Measuring stylized business cycles facts using stochastic cycles
Nominal Stylized Facts of Turkish Business Cycles
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Descriptive studies on stylized facts of the German business cycle
Descriptive Studies on Stylized Facts of the German Business Cycle
The dynamics of business cycles : stylized facts, economic theory, econometric methodology and applications
Business cycles : an international comparison of stylized facts in a historical perspective ; with 45 tables
Stylized Facts of Business Cycles, Excess Volatility and Capital Flows : Evidence from Mexico and Turkey
Has India emerged? Business cycle stylized facts from a transitioning economy
Stylized facts of the business cycle: Universal phenomenon, or institutionally determined?
Measuring stylized business cycles facts using stochastic cycles
Nominal Stylized Facts of Turkish Business Cycles
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Stylized facts of Euroland's business cycle
Descriptive studies on stylized facts of the German business cycle
Descriptive Studies on Stylized Facts of the German Business Cycle
The dynamics of business cycles : stylized facts, economic theory, econometric methodology and applications
Business cycles : an international comparison of stylized facts in a historical perspective ; with 45 tables
Stylized Facts of Business Cycles, Excess Volatility and Capital Flows : Evidence from Mexico and Turkey
Has India emerged? Business cycle stylized facts from a transitioning economy