International Real Business Cycles
检验一个两国经济周期模型能否同时解释国内和国际经济周期的特征，发现模型预测的跨国消费相关性高于产出，而实际数据中产出相关性更高。
The authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the model they see the opposite. Copyright 1992 by University of Chicago Press.