Sato, Kiyotaka; Zhang, Zhaoyong; McAleer, Michael - In: Mathematics and Computers in Simulation (MATCOM) 81 (2011) 7, pp. 1353-1364
In this paper we use a structural VAR model with block exogeneity to investigate if external shocks originating from the USA played a dominant role in influencing the macroeconomic fluctuations in East Asia during the period 1978–2007. The empirical results show a dynamic effect of external...