Replication data for: Trade in Intermediate Inputs and Business Cycle Comovement
Principal Investigator(s): View help for Principal Investigator(s) Robert C. Johnson
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| Replication-Files | 08/03/2019 06:31:AM | ||
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text/plain | 14.6 KB | 08/03/2019 02:31:AM |
Project Citation:
Project Description
Summary:
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Does input trade synchronize business cycles across countries? I
incorporate input trade into a dynamic multisector model with many
countries, calibrate the model to match bilateral input-output data,
and estimate trade-comovement regressions in simulated data. With
correlated productivity shocks, the model yields high trade-comovement correlations for goods, but near-zero correlations for services and thus low aggregate correlations. With uncorrelated shocks, input trade generates more comovement in gross output than real value added. Goods comovement is higher when (i) the aggregate trade elasticity is low, (ii) inputs are more substitutable than final goods, and (iii) inputs are substitutable for primary factors.
Scope of Project
JEL Classification:
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F43 Economic Growth of Open Economies
F44 International Business Cycles
E32 Business Fluctuations • Cycles
E23 Production
F11 Neoclassical Models of Trade
F14 Empirical Studies of Trade
F43 Economic Growth of Open Economies
F44 International Business Cycles
E32 Business Fluctuations • Cycles
E23 Production
F11 Neoclassical Models of Trade
F14 Empirical Studies of Trade
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