Explaining International Comovements of Output and Asset Returns, and the Variability of Exchange Rates
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Empirically, output and asset returns are highly positively correlated across the United States and the other major industrialized countries. Standard business
Output and asset returns are highly positively correlated across the U.S. and the remaining major industrialized countries. Standard business cycle models that
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous sho