000			01578nam a22002417a 4500
003			ZW-GwMSU
005			20240510083525.0
008			240510b |||||||| |||| 00| 0 eng d
022			_a10168737
040			_aMSU _bEnglish _cMSU _erda
050	0	0	_aHB1A1 INT
100	1		_aDurdu, Ceyhun Bora _eauthor
245	1	0	_aEmerging market business cycles: _brecent advances _ccreated by C. Bora Durdu
264	1		_aAbingdon: _bTaylor and Francis, _c2013
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aInternational economic journal _vVolume 27, number 2
520	3		_aHigher variability of consumption relative to output and strong countercyclicality of the trade balance are important regularities of emerging market business cycles. This paper surveys the recent advances in the literature with a goal to understanding the main drivers of these regularities. The literature suggests that trend shocks or countercyclical interest rate shocks are useful modeling tools, but these shocks need to be amplified through inherent frictions to capture these two regularities with realistic calibrations. Informational frictions in expectation formation and search-matching frictions in the labor market appear to provide powerful amplification to trend shocks and countercyclical interest rate shocks, respectively.
650			_aEmerging markets _vBusiness cycles _xInterest rate shocks, Frictional markets, Emerging economies
856			_uhttps://doi.org/10.1080/10168737.2013.796110
942			_2lcc _cJA
999			_c165407 _d165407