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International Transmission with Heterogeneous Sectors

  • Keyu Jin
  • Nan Li
American Economic Journal: Macroeconomics
vol. 10, no. 4, October 2018
(pp. 36-76)
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Abstract

This paper documents new facts about the behavior of capital- and labor-intensive goods over the business cycle and also identifies a mechanism that generates international investment comovement through shifting compositional changes of production and trade across sectors. Our model's quantitative predictions not only match aggregate and sectoral statistics but also generate empirically plausible sectoral composition effects. Finally, we show that essential segments of the transmission process receive empirical support.

Citation

Jin, Keyu, and Nan Li. 2018. "International Transmission with Heterogeneous Sectors." American Economic Journal: Macroeconomics, 10 (4): 36-76. DOI: 10.1257/mac.20150379

Additional Materials

JEL Classification

  • E23 Macroeconomics: Production
  • E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
  • E32 Business Fluctuations; Cycles
  • F44 International Business Cycles
  • L16 Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
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