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Trade Linkages and Output-Multiplier Effects : A Structural VAR Approach with a Focus on Asia
Abeysinghe, Tilak - 2001
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 …
Persistent link: https://www.econbiz.de/10012470116
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Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
Alessandria, George - 2014
The extent and direction of causation between micro volatility and business cycles are debated. We examine, empirically and theoretically, the source and effects of fluctuations in the dispersion of producer- level sales and production over the business cycle. On the theoretical side, we study...
Persistent link: https://www.econbiz.de/10012458049
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Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates
Eichenbaum, Martin - 1993
rates. The temporal pattern of the depreciation in U.S. nominal exchange rates following a positive monetary policy shock is …
Persistent link: https://www.econbiz.de/10012474691
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Exchange Rates and Uncovered Interest Differentials : The Role of Permanent Monetary Shocks
Schmitt-Grohé, Stephanie - 2018
We estimate an empirical model of exchange rates with transitory and permanent monetary shocks. Using monthly post-Bretton-Woods data from the United States, the United Kingdom, and Japan, we report four main findings: First, there is no exchange rate overshooting in response to either temporary...
Persistent link: https://www.econbiz.de/10012481028
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International Shocks and Domestic Prices : How Large Are Strategic Complementarities?
Amiti, Mary - 2016
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...
Persistent link: https://www.econbiz.de/10012456555
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Analysis of the Monetary Transmission Mechanism : Methodological Issues
McCallum, Bennett T. - 1999
functions because the latter require shock identification, which is inherently a difficult process …
Persistent link: https://www.econbiz.de/10012471390
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Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, Lawrence J. - 2001
an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …
Persistent link: https://www.econbiz.de/10012470317
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Monetary Policy Shocks : What Have We Learned and to What End?
Christiano, Lawrence J. - 1998
This paper reviews recent research that grapples with the question: What happens after an exogenous shock to monetary … exogenous shock to monetary policy. Nevertheless, there is considerable agreement about the qualitative effects of a monetary … policy shock in the sense that inference is robust across a large subset of the identification schemes that have been …
Persistent link: https://www.econbiz.de/10012472408
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Monetary Policy with Flexible Exchange Rates and Forward Interest Rates as Indicators
Svensson, Lars E.O. - 1994
In the new situation with flexible exchange rates, monetary policy in Europe will have to rely more on indicators than previously under fixed rates. One of the potential indicators, the forward interest rate curve, can be used to indicate market expectations of the time-paths of future short...
Persistent link: https://www.econbiz.de/10012474301
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EMU : Ready, or Not?
Obstfeld, Maurice - 1999
In this paper I focus on two specific hazard areas in the transition from Stage Two to Stage Three of European economic and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear ill-prepared to handle. The transitional hazards are...
Persistent link: https://www.econbiz.de/10012471509