I employ a global VAR framework for 25 SIDS using annual data over the period 1980 to 2015. A key innovation associated with this research is the use of remittance weights to capture the close financial linkages between SIDS and advanced economies such as the US. I find that oil price shocks do...

This article explores the trade and financial channels through which foreign developments can be transmitted to the UK. We quantify how global developments have affected UK GDP historically, and analyse their potential influence in future rare events. We also discuss the actions taken following...