Konstantakis, Konstantinos N.; Michaelides, Panayotis G. - In: Journal of Economics and Business 76 (2014) C, pp. 115-132
In this paper, we estimate a GVAR model in order to study the transmission of shocks between the EU15 and the USA … trade and credit which act as the transmission channels, whereas EU15 is being treated as a single economy. Our main finding … is that a shock in the US Debt has significant and persistent results on the EU15 and US economies. In general, the EU15 …