economies. In addition to a detailed, holistic overview of the history and theory, the authors include a description of two …

-specific foreign output variable to capture direct inter-country linkages. In accord with the theory all variables are measured as … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply …. We discuss estimation of impulse response functions and variance decompositions in such large systems, and present …

countryspecific foreign output variable to capture direct inter-country linkages. In accord with the theory all variables are measured … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply …. We discuss estimation of impulse response functions and variance decompositions in such large systems, and present …