F62 - Macroeconomic Impacts

• Understanding the Cross‐Country Effects of US Technology Shocks

  Staff Working Paper 2017-23 Wataru Miyamoto, Thuy Lan Nguyen

  Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply and labor demand to international relative prices.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Economic models, International topics JEL Code(s): E, E3, E30, F, F4, F41, F44, F6, F62