obtained from estimating a panel vector autoregression; a positive price shock is found to be expansionary for the components ….3% increase in unfilled vacancies. We then match the impulse responses to a commodity price shock from a small open economy model …

panel vector autoregression; a positive price shock is found to expand the components of GDP, to cause the real exchange … then match the impulse responses to a commodity price shock from a small open economy model with net commodity exports and …