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De Bock, Reinout.

The Composition and Cyclical Behavior of Trade Flows in Emerging Economies Reinout De Bock. [electronic resource] / Reinout De Bock. - Washington, D.C. : International Monetary Fund, 2010. - 1 online resource (32 p.) - IMF Working Papers; Working Paper ; No. 10/46 . - IMF Working Papers; Working Paper ; No. 10/46 .

Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM export few or only a selective set of capital goods and (ii) capital good and overall exports tend to be acyclical. The lack of procyclicality in exports drives the strong countercyclicality of EM trade balances observed in previous studies. A quantitative exercise demonstrates how the standard small open economy business cycle model can be improved for EM by incorporating these features.

ISBN: 1451963106 : 18.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451963106.001 doi

Subjects--Topical Terms:
Capital Good
Emerging Economy
International Business Cycles
Investment Goods
Open Economy Macroeconomics
Open Economy

Subjects--Geographic Terms:
Argentina
Thailand