• Table of Contents
    • Abstract
    • Keywords
    • Article
      • 1 International real business cycles
      • 2 Measuring international business cycles
        • 2.1 Variance decompositions
        • 2.2 International dimensions of the business cycle
          • 2.2.1 The current account
          • 2.2.2 International business cycle co-movement
          • 2.2.3 Real exchange rates and the terms of trade
      • 3 Modelling international business cycles
        • 3.1 The current account
        • 3.2 The world business cycle
        • 3.3 Real exchange rates and the terms of trade
    • See Also
    • Bibliography
    • How to cite this article

international real business cycles

Mario J. Crucini
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

International business cycle research seeks to summarize the statistical properties of worldwide economic fluctuations and model them as the outcome of purposeful decisions by individuals, firms and policymakers who react to changes in their economic environment and an uncertain future. The focus is on identifying the sources of fluctuations and how interactions of economic actors play out in terms of cyclical movements in variables such as gross domestic product. The term ‘real’ indicates a sub-area of the research programme that focuses on non-monetary dimensions such as changes in productivity and fiscal policy rather than in the money supply and monetary policy.
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Keywords

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Article

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See Also

The author is grateful to Ben Eden for comments and to Hakan Yilmazkuday for excellent research assistance.
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How to cite this article

Crucini, Mario J. "international real business cycles." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 23 June 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_I000261> doi:10.1057/9780230226203.0835

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