Abstrakt
An extension of an baseline New Keynesian (NK) model to international context fails to capture important empirical characteristics. Engel and Wang (2011) show that imports and exports are relatively volatile and positively correlated.
An extension of an baseline New Keynesian (NK) model to international context fails to capture important empirical characteristics. Engel and Wang (2011) show that imports and exports are relatively volatile and positively correlated.