00000nam 2200000za 4500 9.827044 CaOODSP 20221107144724 cr ||||||||||| 161107s2016 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-5/2016-48E-PDF Miyamoto, Wataru. Business cycles in small, open economies [electronic resource] : evidence from panel data between 1900 and 2013 / by Wataru Miyamoto and Thuy Lan Nguyen. [Ottawa] : Bank of Canada, c2016. ii, 56 p. Staff Working Paper, 1701-9397 ; 2016-48 "November 2016." Includes bibliographical references (p. 30-32). "Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. We find that financial frictions are an importantfeature for not only developing countries but also small developed countries. Furthermore, business cycles in both groups of countries are marked with trendproductivity shocks. Common disturbances explain one-third of the fluctuations in small, open economies (both developed and developing), especially during important worldwide phenomena"--Abstract, p. ii. Includes abstract in French. gccst International economics gccst Modelling Nguyen, Thuy Lan. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2016-48 (CaOODSP)9.806221 PDF 910 KB https://publications.gc.ca/collections/collection_2016/banque-bank-canada/FB3-5-2016-48-eng.pdf