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

2015-11-18

Authors

Fernández, Andrés
González-Gómez, Andrés
Rodríguez-Guzmán, Diego Arturo

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Document language

spa
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

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

Description

JEL Codes

E32 - Business Fluctuations; Cycles
F41 - Open Economy Macroeconomics
F44 - International Business Cycles

Temática

Keywords

Keywords

Emerging economies , Business cycles , Commodity prices , Common factors , Bayesian estimation , Dynamic stochastic equilibrium models

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6226
 https://hdl.handle.net/20.500.12134/6226
 https://ideas.repec.org/p/bdr/borrec/915.html
 https://doi.org/10.32468/be.915

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