Business Cycles and Exchange Rate Regimes

CREFE Working Paper 45

Posted: 5 Dec 1996

See all articles by Christian Zimmermann

Christian Zimmermann

Federal Reserve Bank of Saint Louis; IZA Institute of Labor Economics

Date Written: November 1996

Abstract

Are business cycles different according to the exchange rate regime? Baxter & Stockman have inconclusive results. We reinvestigate this question with more recent data and a different methodology and find evidence, for some aggregates, that their business cycle behavior has changed. We then try to replicate this change with an international real business cycle model with exchange rate shocks.

JEL Classification: E32, F31, F41

Suggested Citation

Zimmermann, Christian, Business Cycles and Exchange Rate Regimes (November 1996). CREFE Working Paper 45. Available at SSRN: https://ssrn.com/abstract=1805

Christian Zimmermann (Contact Author)

Federal Reserve Bank of Saint Louis ( email )

411 Locust St
Saint Louis, MO 63011
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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