International and intranational business cycles
评述国际真实商业周期文献，重新探讨两个国际商业周期异常现象，并比较国际与国内区域间的商业周期特征，得出政策结论。
This paper surveys and analyzes the international real business cycle literature. We re-explore two international business cycle anomalies emphasized by Backus, Kehoe and Kydland (1995) as well as establishing the pattern of productivity growth between industries and countries. We then compare these findings for the international business cycle to those obtained for data between regions within a country--the so called "intranational business cycle." Importantly, the intranational business cycle is a natural environment for thinking about the interactions between economies when there are no trade frictions and when there are not multiple currencies. We summarize our findings with a comparison between the stylized facts for international and intranational business cycles and draw some policy conclusions. Copyright 1997 by Oxford University Press.