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A Simple Model to Teach Business Cycle Macroeconomics for Emerging Market and Developing Economies

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  • Roberto Duncan

Abstract

The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies. The author reformulates the model proposed by Aguiar and Gopinath (2007) in a simple setting that can be used to teach business cycle macroeconomics for emerging market and developing economies at the undergraduate level. The simplified model is employed for qualitatively explaining facts such as the highly countercyclicality of the trade balance and the higher volatility of output and consumption compared with those observed in advanced countries.

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  • Roberto Duncan, 2015. "A Simple Model to Teach Business Cycle Macroeconomics for Emerging Market and Developing Economies," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(4), pages 394-402, October.
    • Handle: RePEc:taf:jeduce:v:46:y:2015:i:4:p:394-402
    DOI: 10.1080/00220485.2015.1071221
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    References listed on IDEAS

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    1. Eduardo Lora & Hugo Ñopo, 2009. "La Formación de los Economistas en America Latina," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines, vol. 24(2), pages 65-93, Diciembre.
    2. Eduardo Lora & Hugo Ñopo, 2009. "La Formación de los Economistas en America Latina," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 24(2), pages 65-93, Diciembre.
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    Cited by:

    1. Waknis, Parag, 2017. "A Segmented Markets Model to Teach Analysis of Monetary Policy Shocks in Developing Economies," MPRA Paper 78011, University Library of Munich, Germany.
    2. Sahar Milani, 2023. "Teaching Environmental Macroeconomics to Undergraduate Students," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(3), pages 391-407, June.

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