Financial Autarky and International Business Cycles

By Jonathan Heathcote, F. Perri. 2002

671 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/4bb0a5a4a16d9f572422b39a39eb3d0e287696f8

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Citations in the corpus

Do trade costs in goods market lead to home bias in equities (2009, neutral): “Heathcote and Perri (2002) provides short-run estimates of this elasticity that are slightly smaller than one.”
International Risk-Sharing and the Transmission of Productivity Shocks (2004, neutral): “[23] Heathcote, Jonathan and Fabrizio Perri [2002].”
In Search of the Armington Elasticity (2014, neutral): “We jointly estimate the macro equation (40) together with equation (30) to obtain the macro elasticity, making use of the cross-equation restriction ρ2g = ρ1g/ρ F in (38) and using estimates of the micro elasticities and ρ1g that come from (25).”
The International Elasticity Puzzle (2008, background): “(See for example, Backus, Kehoe and Kydland (1994), Zimmermann (1997), or Heathcote and Perri (2002).)”
Does financial globalization promote risk sharing (2009, background): “2 (Heston et al., 2006) and the World Bank's World Development Indicators. Per capita real GDP, real private consumption, and real public consumption constitute the measures of national output, private consumption and government consumption, respectively. All data are in constant (2000) internationa”
International business cycles with domestic and foreign lenders (2006, methodology): “For example, it replicates that used by Heaton and Lucas (1996) and Aiyagari and Gertler (1999) in describing transaction costs associated with trade of financial assets.”
Understanding the Evolution of World Business Cycles (2005, background): “…because reductions in restrictions on capital and current account transactions induce more “resource shifting”, through which capital and other resources rapidly move to the countries receiving more favorable technology shocks (see Backus, Kehoe, and Kydland (1995) and Heathcote and Perri (2002)).”
How Does Financial Globalization Affect Risk Sharing? Patterns and Channels (2007, neutral): “…incomplete asset markets have been more successful in generating the rankings of cross-country consumption and output correlations observed in the data, although even these models require some strong assumptions to match certain features of the data (Baxter, 1995, and Heathcote and Perri, 2002).”
Brexit and the macroeconomic impact of trade policy uncertainty (2019, background): “4The literature indicates that value added and intermediates are almost perfectly complementary (Kehoe et al., 2013; Atalay, 2014). This assumption does not affect significantly affect welfare results and delivers more reasonable investment dynamics in the leadup to and immediate aftermath of Brexit”
Home bias in open economy financial macroeconomics (2013, neutral): “…rate changes suggests a low elasticity of substitution, between 0.5 and 1.5 (see Hooper and Marques (1995), Backus, Kehoe and Kydland (1994) and Heathcote and Perri (2002)), bilateral sectoral trade data suggests a large elasticity, -above 5 for most sectors (see Harrigan (1993), Hummels…”