Emerging market business cycles

Emerging market business cycles

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4.3 Sudden Stops A major challenge to models of emerging markets is explaining the large current account reversals observed in the data, ... To do this, we first use the Kalman filter and the estimated parameters (GHH specification) to decompose the Solow residuals calculated using ... We plot the predicted and actual path of net exports as a percentage of GDP in Figure 6, where we have normalizedanbsp;...

Title:Emerging market business cycles
Author: Mark Aguiar, Gita Gopinath, National Bureau of Economic Research
Publisher: - 2004

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