Sato, Kiyotaka; Zhang, Zhaoyong; McAleer, Michael - Department of Economics and Finance, College of … - 2010
In this paper we use a structural VAR model with block exogeneity to investigate if external shocks originating from the USA played a dominant role in influencing the macroeconomic fluctuations in East Asia during the period 1978-2007. The empirical results show a dynamic effect of external...