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A structural VAR business cycle model for a volatile small open economy

โœ Scribed by Robert A. Buckle; Kunhong Kim; Heather Kirkham; Nathan McLellan; Jarad Sharma


Book ID
116423742
Publisher
Elsevier Science
Year
2007
Tongue
English
Weight
928 KB
Volume
24
Category
Article
ISSN
0264-9993

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Solving the real business cycles model o
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One hallmark of small-open economy models with a time-separable preference assumption is the non-uniqueness of their steady states. Following King et al. (J. Monetary Econ. 21 (1988) 195-232), most studies compute a log-linear approximation solution to their small-open economies around the sample me