scholarly journals Emerging Economy Business Cycles: Interest Rate Shocks vs Trend Shocks

2019 ◽  
Author(s):  
Marc-Andre Letendre ◽  
Sabreena Obaid
Keyword(s):  
Interest Rate ◽  
Business Cycles ◽  
Emerging Economy ◽  
Interest Rate Shocks

Interest Rate Shocks and Credit Risk

2009 ◽  
Author(s):  
Carlos González-Aguado ◽  
Javier Suarez
Keyword(s):  
Interest Rate ◽  
Credit Risk ◽  
Interest Rate Shocks

Are Asian Business Cycles Different?

2013 ◽  
Vol 12 (3) ◽  
pp. 94-113 ◽  
Author(s):  
Yongseung Jung ◽  
Soyoung Kim ◽  
Doo Yong Yang ◽  
Tack Yun
Keyword(s):  
Latin America ◽  
Business Cycles ◽  
Durable Goods ◽  
Emerging Economy ◽  
Transmission Mechanism ◽  
Transmission Mechanisms ◽  
Net Exports ◽  
Standard Models ◽  
Key Features

This paper studies the unusual features of emerging economy business cycles in Asia. When we assess whether approaches from the previous literature can explain Asian business cycles, we conclude that standard models based on permanent growth shocks do not replicate key features of Asian business cycles. The evidence suggests that different transmission mechanisms explain the connections between consumption, net exports, and export or import in Latin America and Asia. For evidence of a special transmission mechanism, we study durable goods business cycles in Asia (Korea), noting that strong pro-cyclical durable goods consumption may be explained by the export-income channel coupled with market laddering by which firms have expanded the variety and quality of their durable goods production.

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