This study reports that commodity price shocks predominantly affect the mining, construction and manufacturing industries in Australia. However, the financial and insurance sectors are found to be relatively unaffected. Mining industry profits and nominal output substantially increase in...

Movement in China's money supply is shown to drive the movement in world money supply over the last fifteen years. Structural shocks to G3 (U.S., Eurozone and Japan) real M2 and to China's real M2 are both large over 1996:1–2011:12. The cumulative impact of real G3 M2 shocks on real oil prices...

The aim of this paper is to examine the influence of monetary aggregate shocks in the U.S., China and Japan on the Euro area between 1999 and 2012. There are marked differences in the effect of increases in monetary aggregates in China, Japan and the U.S. on Euro area economic and financial...