Research Discussion Paper – RDP 2013-08 International Business Cycles with Complete Markets


The Discussion Paper series is intended to make the results of the current economic research within the Reserve Bank available to other economists. Its aim is to present preliminary results of research so as to encourage discussion and comment. Views expressed in this paper are those of the authors and not necessarily those of the Reserve Bank. Use of any results from this paper should clearly attribute the work to the authors and not to the Reserve Bank of Australia.

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We would like to thank Nelson Mark, Evi Pappa, Antonio Manresa, Xavier Raurich, Montse Vilalta, seminar participants at Universitat Autònoma de Barcelona, Universitat de Barcelona, the University of New South Wales and participants at the Econometric Society Asian Meeting 2011 and Tsinghua-Columbia Conference on International Economics 2011 for their valuable comments. Alexandre Dmitriev acknowledges financial support from the University of New South Wales under the ASB SRG scheme. This paper is drawn from work undertaken as part of Ivan Roberts' PhD thesis at the University of New South Wales, completed with the support of the Reserve Bank of Australia.


University of Tasmania [*]

Economic Group, Reserve Bank of Australia [**]