Impacts of Technological Shock on the Agricultural Business Cycle
2021-05-27
The real business cycles in ASEAN-5 countries namely Indonesia, Malaysia, the Philippines, Thailand, and Vietnam over 1971-2015 fluctuated more than their agricultural business cycles. This research utilized the two-sector real business cycle model developed by Da-Rocha and Restuccia (2002) to simulate such a stylized fact. The model assumes that aContinue Reading