Sharing a ride on the commodities roller coaster : common factors in business cycles of emerging economies

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Borradores de Economía; No. 915
Date published
2015-11-18
Date of last update
2015-11-18
Author
Fernández, Andrés
González-Gómez, Andrés
Rodríguez-Guzmán, Diego Arturo
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then embed a commodity sector into a multi-co
JEL Codes
E32 - Business Fluctuations; CyclesF41 - Open Economy MacroeconomicsF44 - International Business Cycles
Keywords
Emerging economies ; Business cycles ; Commodity prices ; Common factors ; Bayesian estimation ; Dynamic stochastic equilibrium models ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6226
https://hdl.handle.net/20.500.12134/6226
https://doi.org/10.32468/be.915
https://ideas.repec.org/p/bdr/borrec/915.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit