What is the driving force of the macroeconomic fluctuations in Japan over the past forty years? To answer this question, we specify a structural vectorerror-correction model using combination of long-run and short-run restrictions. Especially by dividing the supply shocks such as neutral and...

I revisit the hotly debated topic regarding the possibility of introducing a common currency for East Asia from the point of view of shock symmetry. I first point out a serious problem of the existing studies which use the VAR method with long-run restrictions developed by Blanchard and Quah...

This paper studies the sources of high and chronic inflation in Vietnam in recent years using the structural VAR method identified by sign restrictions. The novelty of the paper is that the sign restrictions are drawn from a New Keynesian small open economy DSGE model built and calibrated to the...

The lack of sufficient quarterly data on output is often a problem confronting research on the Vietnamese economy which has been attracting attention from academicians as well as policy makers. This paper provides estimates of quarterly real GDP in the period 1992q1-2007q4 for Vietnam using the...