The paper considers some of the issues emerging from the discrete wavelet analysis of popular bivariate spectral quantities such as the coherence and phase spectra and the frequency-dependent time delay. The approach utilised here is based on the maximal overlap discrete Hilbert wavelet...

The paper considers some of the issues emerging from the discrete wavelet analysis of popular bivariate spectral quantities such as the coherence and phase spectra and the frequency-dependent time delay. The approach utilised here is based on the maximal overlap discrete Hilbert wavelet...

A lack of economic convergence among euro member countries seems to be feeding euro-skepticism. Using a Structural Vector Auto Regression model combined with a time varying correlation analysis, we attempt to test the endogeneity theory for the three core euro members, i.e., France, Germany, and...

Este trabajo evalúa cómo choques originados en grandes economías alrededor del mundo se han trasmitido a las tasas de crecimiento de países latinoamericanos. Para ello se propone, estima, evalúa y simula un modelo VAR estructural bastante parsimonioso, identificado a través de vínculos de...

In this paper we examine the spillovers of a shock to real output in the euro area to Central, Eastern and Southeastern Europe (CESEE) and its subregions Central Europe, Southeastern Europe, Russia, and the other members of the Commonwealth of Independent States (CIS). To this effect, we apply a...

This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission of international business cycles to Latin America. Evidence based on a GVAR model for five large Latin American economies shows that the long-term impact of...

How do shocks originated in large economies around the globe have transmitted to the growth rates of Latin American countries? To answer this question, we propose a highly parsimonious structural VAR model, identified through bilateral trade linkages .Since trade weights evolve through time, the...

The main goal of the paper is to assess a degree of coherence of macroeconomic shocks in the Visegrad Group (Czech Republic, Hungary, Poland and Slovak Republic, collectively: V4). We set out to consider the historical decomposition of unobservable supply and demand disturbances among V4...

This study examines the time-varying correlations between oil prices shocks of different types (supply-side, aggregate demand and oil-market specific demand as per Kilian (2009) who highlighted that “Not all oil shocks are alike”) and stock market returns, using a Scalar-BEKK model. For this...

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