draw some implications for timing between monetary expansion and inflation, inter-country comparisons of inflation rates … lead inflation in the sense that money Granger-causes prices without feedback, contradicting an implication of the monetary … of inflation during the fixed exchange rate period, providing no evidence for a generalized "law of one price." (3) Some …

This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries …. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output …-trade matrix. For example, due to these output-multiplier effects, a shock to one country can have a large impact on countries that …

deterministic transition path: we study the equilibrium response to a single, small "MIT shock'' carefully. We then regard this …

restrictions on the responses of a subset of the endogenous variables to a particular structural shock (sign-restricted SVARs). To …

While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international … upon exchange rate adjustments as a mechanism to correct for PPP deviations arising from divergent domestic inflation rates …

-equation restrictions. This paper develops and explores policy analysis approaches that are either based on a generalized shock structure …