DESCRIPTION OF DATA FILES for "Real business cycles in emerging countries?" 'argentina_data_1900_2005.xls': data for Argentina, columns: year log of real gdp per capita, log of real investment per capita, log of real consumption per capita, trade-balance-to-gdp ratio. 'mexico_data_1900_2005.xls': data for Mexico, columns: year log of real gdp per capita, log of real investment per capita, log of real consumption per capita, trade-balance-to-gdp ratio. 'developed_gdp_1900_2005.xls': gdp per capita data for developed small open economies (each column is a country). 'emerging_gdp_1900_2005.xls': gdp per capita data for emerging economies (each column is a country). 'developed_tby.xls': trade-balance-to-gdp ratio for emerging economies (each column is a country). 'emerging_tby.xls': trade-balance-to-gdp ratio for emerging economies (each column is a country). DESCRIPTION OF MATLAB CODE FOR COMPUTING THEORETICAL SECOND MOMENTS The RBC Model: Run the program rbc_run.m The Financial-Friction model: run the program financial_friction_run.m Note: the following files require the use of the suite of programs for first- and second-order approximation of DSGE models prepared by S. Schmitt-Grohe and Martin Uribe and available online at www.columbia.edu/~mu2166/2nd_order.htm