The interdependence between credit and real business cycles in latin american economies

The transcript of a panel discussion marking three decades of the real business cycle approach to macroeconomic analysis as manifested in Kydland and Prescott's “Time to Build” (Econometrica, 1982) and Long and Plosser's “Real Business Cycles” (Journal of Political Economy, 1983). The panel consists of Edward Prescott, Finn Kydland, Charles Plosser, John Long, Thomas Cooley, and Gary Hansen. The discussion is moderated by Sumru Altug and Warren Young. The panel touches on a wide variety of issues related to real business cycle models, including their history and methodology, starting with the work of Prescott and Kydland at Carnegie Tech and Plosser and Long at Rochester; their applications to policy; and their role in the recent financial crisis and likely future.The panel discussion was held in a session sponsored by the History of Economics Society at the Allied Social Sciences Association (ASSA) meetings in the Randle A Room of the Manchester Grand Hyatt Hotel in San Diego, California.

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Labor market search and real business cycles: reconciling Nash bargaining with the real wage dynamics

Review of Economic Dynamics ◽

10.1016/j.red.2003.11.003 ◽

2004 ◽

Vol 7 (2) ◽

pp. 476-493 ◽

Cited By ~ 29

Author(s):

A. Chéron ◽

F. Langot

Keyword(s):

Labor Market ◽

Business Cycles ◽

Real Wage ◽

Nash Bargaining ◽

Wage Dynamics ◽

Real Business Cycles ◽

The Real ◽

Market Search ◽

Labor Market Search

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Monetary integration issues in Latin America: A multivariate assessment

Panoeconomicus ◽

10.2298/pan0803279a ◽

2008 ◽

Vol 55 (3) ◽

pp. 279-308

Author(s):

Jean-Pierre Allegret ◽

Alain Sand-Zantman

Keyword(s):

Latin America ◽

Exchange Rate ◽

Business Cycles ◽

Latin American ◽

Monetary Union ◽

Monetary Integration ◽

Integration Process ◽

Common Shocks ◽

The Impact ◽

Latin American Countries

This paper assesses the monetary consequences of the Latin-American integration process. Over the period 1991-2007, we analyze a sample of five Latin-American countries focusing on the feasibility of a monetary union between L.A. economies. To this end, we study the issue of business cycle synchronization with the occurrence of common shocks. First, we assess the international disturbances influence on the domestic business cycles. Second, we analyze the impact of the adoption of different exchange rate regimes on the countries' responses to shocks. .

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