This paper uses a VAR model to quantify the relative importance of external debt, exchange rates, monetary policy and other selected variables when explaining output fluctuations in Brazil. Using the money market rate as a policy instrument, impulse response functions indicate that shocks to the...

The aim of this paper is to investigate how major net oil exporter economies react to oil price shocks. We contribute to the literature by considering, at the same time, the possible nonlinearity and asymmetry of this relationship with respect to sign, size and causes of the oil price shocks, as...

This paper analyses the Japanese economic growth since 1970 with particular attention for the last decade. After a brief discussion on the qualitative behaviour of macroeconomic variables, a survey of literature presents the ideas of various models. This is useful for the econometric analysis...