 | Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates? Author/Editor: Pau Rabanal, Juan F. Rubio-Ramirez. Release Date:January, 2012 Real exchange rates exhibit important low-frequency fluctuations. This makes the analysis of real exchange rates at all frequencies a more sound exercise than the typical business cycle one, which more...
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 | Cointegrated TFP Processes and International Business Cycles Author/Editor: Vicente Tuesta, Juan F. Rubio-Ramirez, Pau Rabanal. Release Date:September, 2009 A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that more...
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