The composition and cyclical behavior of trade flows in emerging economies /

The composition and cyclical behavior of trade flows in emerging economies /

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Bibliographic Details
Author / Creator:De Bock, Reinout, author.
Imprint:Washington, D.C. : International Monetary Fund, ©2010.
Description:1 online resource (32 pages) : color illustrations.
Language:English
Series:IMF working paper, 2227-8885 ; WP/10/46
IMF working paper ; WP/10/46.
Subject:
Capital movements -- Developing countries -- Econometric models.
Business cycles -- Developing countries -- Econometric models.
Business cycles -- Econometric models.
Capital movements -- Econometric models.
Commerce -- Econometric models.
Developing countries -- Commerce -- Econometric models.
Developing countries.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12498400
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Middle East and Central Asia Department, issuing body.
ISBN:1283557711
9781283557719
9781452795454
1452795452
9781451963106
1451963106
1451918917
9781451918915
ISSN:2227-8885
Notes:Includes bibliographical references (pages 18-19).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
Summary:Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM export few or only a selective set of capital goods and (ii) capital good and overall exports tend to be acyclical. The lack of procyclicality in exports drives the strong countercyclicality of EM trade balances observed in previous studies. A quantitative exercise demonstrates how the standard small open economy business cycle model can be improved for EM by incorporating these features.
Other form:Print version: De Bock, Reinout. Composition and cyclical behavior of trade flows in emerging economies. [Washington, D.C.] : International Monetary Fund, ©2010
Standard no.:10.5089/9781451918915.001
Table of Contents:
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Composition and Business Cycle Features of Trade Flows; A. Composition and Magnitude of Capital Good Exports and Imports; 1. Data Source; 2. Capital Goods Import and Export Shares in EM and Developed Economies; B. Business Cycle Properties; 1. Business Cycles in Argentina, 1980-2000; 2. Business Cycles in Thailand, 1980-2000; 3. Business Cycles Characteristics; 4. Cyclicality of Trade Flows; 3. Median Capital Goods Trade Balance and Cyclicality of the Trade Balance, 1980-2000.
  • 5. Business Cycle Volatility in Emerging and Developed EconomiesIII. The Model; A. Production and Investment Technology; B. Preferences and Budget Constraint; C. Factor-market Inflexibilities; D. Equilibrium; IV. Parameterization; 6. Parameter Values; A. Preferences and Labor Supply; B. Investment Aggregator and Adjustment Costs; C. Asset Market and the Trade Balance; D. Productivity Shocks; V. Implications of the Model; A. Cyclicality of the Trade Balance; 4. Impulse Response Function to a Productivity Shock in a Standard Small Open Economy Model; 7. Correlation.
  • 5. Impulse Response Function to Productivity Shock in the Home SectorB. Second Moments; 8. Actual and Simulated Business Cycle Moments; VI. Conclusion; Appendix A: Data Sources; Appendix B: Small-Open Economy Model; References; Footnotes.

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