Publication:
Emerging Market Fluctuations : What Makes the Di erence?

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dc.contributor.authorHevia, Constantino
dc.date.accessioned2012-03-19T19:09:50Z
dc.date.available2012-03-19T19:09:50Z
dc.date.issued2009-04-01
dc.description.abstractAggregate fluctuations in emerging countries are quantitatively larger and qualitatively different in key respects from those in developed countries. Using data from Mexico and Canada, this paper decomposes these differences in terms of shocks to aggregate efficiency and shocks that distort the decisions of households about how much to invest, consume, and work in a standard model of a small open economy. The decomposition exercise suggests that most of these differences are explained by fluctuations in aggregate efficiency, distortions in labor decisions over the business cycle, and, most importantly, fluctuations in country risk. Other distortions are quantitatively less important.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090408124920
dc.identifier.doi10.1596/1813-9450-4897
dc.identifier.urihttps://hdl.handle.net/10986/4091
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 4897
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSOLUTE VALUE
dc.subjectACCELERATOR
dc.subjectADJUSTMENT COST
dc.subjectADJUSTMENT COST PARAMETER
dc.subjectADJUSTMENT COSTS
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectAGENCY COSTS
dc.subjectAGGREGATE INVESTMENT
dc.subjectALLOCATION
dc.subjectARIMA
dc.subjectBEHAVIOR OF INVESTMENT
dc.subjectBEHAVIOR OF PRICES
dc.subjectBOND
dc.subjectBONDS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL GOODS
dc.subjectCAPITAL RATIO
dc.subjectCAPITAL STOCK
dc.subjectCLOSED ECONOMY
dc.subjectCOLLATERAL
dc.subjectCONSTANT RETURNS TO SCALE
dc.subjectCONSUMPTION EXPENDITURES
dc.subjectCONSUMPTION GOOD
dc.subjectCONSUMPTION GOODS
dc.subjectCOUNTRY RISK
dc.subjectCOVARIANCE MATRIX
dc.subjectCURRENT ACCOUNT
dc.subjectDEBT
dc.subjectDEFAULT RISK
dc.subjectDEPRECIATION
dc.subjectDEPRECIATION RATE
dc.subjectDEPRESSION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISTORTION
dc.subjectDISTORTIONS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC RESEARCH
dc.subjectECONOMIC THEORY
dc.subjectELASTICITY
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET BUSINESS
dc.subjectEQUILIBRIUM
dc.subjectEXPECTED UTILITY
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL CRISES
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN INTEREST RATES
dc.subjectFUNCTIONAL FORMS
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGENERAL EQUILIBRIUM ANALYSIS
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME TAX
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINVENTORIES
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT EXPENDITURES
dc.subjectINVESTMENT RISK
dc.subjectLEVERAGE
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMICS
dc.subjectMARGINAL PRODUCT
dc.subjectMARGINAL UTILITY
dc.subjectMAXIMUM LIKELIHOOD ESTIMATION
dc.subjectMONETARY ECONOMICS
dc.subjectMONETARY POLICY
dc.subjectNET EXPORTS
dc.subjectOPEN ECONOMIES
dc.subjectOPEN ECONOMY
dc.subjectOPTIMIZATION
dc.subjectOUTPUT
dc.subjectOUTPUT RATIO
dc.subjectOUTPUT RATIOS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOPULATION GROWTH
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTION FUNCTIONS
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC POLICY
dc.subjectREAL INTEREST RATES
dc.subjectRECESSION
dc.subjectRECESSIONS
dc.subjectRELATIVE PRICE
dc.subjectRISK AVERSION
dc.subjectRISK PREMIUM
dc.subjectSLACK
dc.subjectSTANDARD DEVIATION
dc.subjectSTEADY STATE
dc.subjectSTICKY WAGES
dc.subjectSTOCK OF CAPITAL
dc.subjectSURPLUS
dc.subjectTAX
dc.subjectTAX RATE
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRANSMISSION MECHANISMS
dc.subjectTROUGH
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUTILITY FUNCTION
dc.subjectVOLATILITY
dc.subjectWEALTH
dc.subjectWORKING CAPITAL
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD INTEREST RATE
dc.subjectWORLD INTEREST RATES
dc.titleEmerging Market Fluctuations : What Makes the Di erence?en
dspace.entity.typePublication
okr.crossref.titleEmerging Market Fluctuations: What Makes The Difference?
okr.date.doiregistration2025-04-10T12:18:29.357233Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090408124920
okr.guid441171468149681307
okr.identifier.doi10.1596/1813-9450-4897
okr.identifier.externaldocumentum000158349_20090408124920
okr.identifier.internaldocumentum10428495
okr.identifier.reportWPS4897
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/04/08/000158349_20090408124920/Rendered/PDF/WPS4897.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.sectorFinance :: General finance sector
okr.themeFinancial and private sector development :: Small and medium enterprise support
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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