A spectral analysis of the cross-country consumption correlation puzzle

被引：24
|
作者：
Pakko, MR [1 ]
机构：
[1] Fed Reserve Bank St Louis, St Louis, MO 63102 USA
来源：
ECONOMICS LETTERS | 2004年 / 84卷 / 03期
关键词：
cospectrum; frequency domain; international business cycles;
D O I：
10.1016/j.econlet.2004.03.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Dynamic general equilibrium models predict high cross-country consumption correlations, whereas the data show that output correlations tend to be higher. Spectral decomposition reveals that this ranking varies across frequency bands, with consumption correlations often exceeding output correlations at higher frequencies. (C) 2004 Elsevier B.V. All rights reserved.
引用
收藏
页码：341 / 347
页数：7
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