Title:S-Curve Redux: On the International Transmission of Technology Shocks
Author(s):ENDERS, Zeno; MÜLLER, Gernot J.Date:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Using vector autoregressions on U.S. time series, we find that technology shocks induce an ‘S’-
shaped cross-correlation function for the trade balance and the terms of trade (S-curve). In calibrating
a prototypical ...