International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
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We thank David Backus, Martin Boileau, Lukasz Drozd, Jonathan Heathcote, Enrique Martinez-Garcia, Mark Wynne, Kei-Mu Yi and seminar participants at Boston College, Chicago GSB, Dartmouth College, Tufts University, the Federal Reserve Bank of Dallas, and HEC/CIRPEE Real Business Cycle Conference for helpful comments. All views are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Dallas or the Federal Reserve System. Engel acknowledges support for this research from a grant from the National Science Foundation. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.