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Realistic cross-country consumption correlations in a two-country, equilibrium, business cycle model

✍ Scribed by Michael B. Devereux; Allan W. Gregory; Gregor W. Smith


Book ID
116116537
Publisher
Elsevier Science
Year
1992
Tongue
English
Weight
1014 KB
Volume
11
Category
Article
ISSN
0261-5606

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## Abstract The paper describes a procedure for examining short‐run dynamic interactions among macroeconomic models by constructing aggregate state‐space submodels for dynamic modes corresponding with short‐run response patterns. Using the quarterly real GNP from the US, Germany, and Japan for 1974