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Replication data for: BKK the EZ Way: International Long-Run Growth News and Capital Flows

Version
V0
Resource Type
Dataset
Creator
  • Colacito, Ric
  • Croce, Max
  • Ho, Steven
  • Howard, Philip
Publication Date
2018-11-01
Description
  • Abstract

    We study the response of international investment flows to short- and long-run growth news. Among developed G7 countries, positive long-run news for domestic productivity induces a net outflow of investments, in contrast to the effects of short-run growth shocks. We document that a standard Backus, Keho, and Kydland (1994) (BKK) model fails to reproduce this novel empirical evidence. We augment this model with Epstein and Zin (1989) preferences (EZ-BKK) and characterize the resulting recursive risk-sharing scheme. The response of international capital flows in the EZ-BKK model is consistent with the data.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20141123 (Text)
Publications
  • Colacito, Ric, Max Croce, Steven Ho, and Philip Howard. “BKK the EZ Way: International Long-Run Growth News and Capital Flows.” American Economic Review 108, no. 11 (November 2018): 3416–49. https://doi.org/10.1257/aer.20141123.
    • ID: 10.1257/aer.20141123 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Colacito, Ric; Croce, Max; Ho, Steven; Howard, Philip (2018): Replication data for: BKK the EZ Way: International Long-Run Growth News and Capital Flows. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113001