investigates the effect of macroeconomic linkages on international shock transmissions in selected East Asian countries. Global … effects in the same way. On the other hand, result from the dynamic analysis, shows that China contributes highest shock … transmission in the real sector, whereas US is the highest in the equity market. For the exchange rate; within-regional shock …

policy shock leads to a persistent fall in international output, a drop in global inflation rates, a rise in international … shock to foreign real GDP growth …

direct impact predominantly on U.S. sectors and then propagate to the rest of the world through the global production network …