Dées, Stéphane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2010
, demand and monetary policy shocks. Following the literature, we assume that the within country supply, demand and monetary … US monetary policy. -- global VAR (GVAR) ; New Keynesian DSGE models ; supply shocks ; demand shocks ; monetary policy … policy shocks are orthogonal, though shocks of the same type (e.g. supply shocks in different countries) can be correlated …