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This paper provides a method for the analysis of the spatial and temporal diffusion of shocks in a dynamic system. We use changes in real house prices within the UK economy at the level of regions to illustrate its use. Adjustment to shocks involves both a region specific and a spatial effect....
Persistent link: https://www.econbiz.de/10013095156
aggregate demand and aggregate technology shocks and argue that the bulk of the variance of both aggregate manufacturing … investment and output growth fluctuations (as much as approximately two thirds in both cases) is explained by aggregate demand …
Persistent link: https://www.econbiz.de/10013315790
-specific foreign output variable to capture direct inter-country linkages. In accord with the theory all variables are measured as … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply …, demand and monetary policy shocks. Following the literature, we assume that the within country supply, demand and monetary …
Persistent link: https://www.econbiz.de/10013094653
Shocks to the demand for housing that originate in one region may seem important only for that regional housing market …
Persistent link: https://www.econbiz.de/10012916565
and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … a significant lag, whereas shocks to oil demand do not …
Persistent link: https://www.econbiz.de/10012926556
evidence and economic theory, the substantive results of earlier oil market studies are reaffirmed. We also refute BH’s claim …
Persistent link: https://www.econbiz.de/10013315410
the viewers' equilibrium demand for high quality content. We find that, although consumers dislike advertisements, an …
Persistent link: https://www.econbiz.de/10013122127
and labour and its relation to derived demand. The resulting formula has proven very useful in understanding the derived … demand for productive factors, the distribution of factor incomes, and Marshall's Four Rules. This short paper notes that a …
Persistent link: https://www.econbiz.de/10012779812
Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export … shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as …
Persistent link: https://www.econbiz.de/10013054497
In this paper we explore the role that demand uncertainty plays for the offshoring decision, and the role that … demand. The presence of a cost of firing or hiring as in Bagliano & Bertola (2004) generates an intertemporal element to a …
Persistent link: https://www.econbiz.de/10012986173