in terms of demand management and exchange rate (or tariff) policy as well as supply management are analyzed. The theory …

shocks have a very persistent effect on real activity. In determining the speed of recovery from an adverse economic shock …, the most important factor is the extent to which the shock erodes entrepreneurial wealth …

imports into a theory of macro-economic adjustment derives from the particular set of events that have affected the industrial … economies in the 1970's -- the unprecedented rise in raw materials prices, in particular the oil price shock, and the …

oil-price shock and the 9/11 terrorist attack. This paper offers a structural framework to analyze the impact of these … data. The parameterized model is then used to simulate a macro uncertainty shock, which produces a rapid drop and rebound … medium term the increased volatility from the shock induces an overshoot in output, employment and productivity. Thus, second …