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Wealth effects and countercyclical net exports

journal contribution
posted on 2023-05-17, 16:31 authored by Dmitriev, A, Roberts, I
Two-country, one-good business cycle models with Cobb–Douglas preferences predict procyclical net exports. The opposite is observed in the data. We show that introduction of preferences that eliminate wealth effects on labour supply remedies this discrepancy. It also improves the model’s ability in matching cross-country correlations.

History

Publication title

Applied Economics Letters

Volume

19

Issue

17

Pagination

1673-1677

ISSN

1350-4851

Department/School

TSBE

Publisher

Routledge Taylor & Francis Ltd

Place of publication

4 Park Square, Milton Park, Abingdon, England, Oxfordshire, Ox14 4Rn

Rights statement

Copyright 2012 Taylor & Francis

Repository Status

  • Restricted

Socio-economic Objectives

Macro labour market issues

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    University Of Tasmania

    Categories

    Keywords

    wealth effectsGHH preferencesInternational Business Cycles

    Licence

    In Copyright

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