@techreport{Otsu2010International,
abstract = {In this paper, I extend the business cycle accounting method a la Chari, Kehoe and McGrattan (2007) to a two-country international business cycle model and quantify the effect of the disturbances in relevant markets on the business cycle correlation between Japan and the US over the 1980-2008 period. I find that disturbances in the labor market and production efficiency are important in accounting for the recent increase in the cross-country output correlation. Financial globalization can be the cause of the recent increase in cross-country output correlation if it operated through an increase in the cross-country correlation of disturbances in the labor market and production efficiency, not in the domestic or international capital markets.},
address = {Canterbury},
author = {Keisuke Otsu},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E32; F41; 330; business cycle accounting; international business cycles; financial globalization},
language = {eng},
number = {10,10},
publisher = {Univ. of Kent, School of Economics},
title = {International business cycle accounting},
type = {School of Economics discussion papers},
url = {http://hdl.handle.net/10419/50568},
year = {2010}
}
