Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Backus, Coleman, Ferriere and Lyon study how the formulations of preferences and shocks affect the behavior of macroeconomic and financial aggregates in a simple endowment economy with no frictions. Their exercise could be considered as a first step of a rich research program that can further our understanding of international business cycles. After discussing the fundamental propagation mechanisms in standard international business cycle models, I put their contribution in a broader context. I conclude with a summary of possible research questions to be explored in future work.