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The Sources of Recent Inflation in Vietnam : Evidence from a VAR with Sign Restrictions
Vu, Tuan Khai - 2013
This paper studies the sources of high and chronic inflation in Vietnam in recent years using the structural VAR method identified by sign restrictions. The novelty of the paper is that the sign restrictions are drawn from a New Keynesian small open economy DSGE model built and calibrated to the...
Persistent link: https://www.econbiz.de/10013083637
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What does the Bank of Japan do to East Asia?
Maćkowiak, Bartosz (contributor) - 2005
In recent policy debates some have argued that expansionary monetary policy in Japan can increase real output in Japan and in Japan's neighbors, while others have warned that it is a beggar-thy-neighbor policy. In this paper we estimate structural vector autoregressions to assess the effects of...
Persistent link: https://www.econbiz.de/10003324151
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What are the International Channels Through Which a Us Policy Shock is Transmitted to the World Economies? Evidence from a Time Varying FAVAR
Evgenidis, Anastasios; Siriopoulos, Costas - 2022
countries by using a FAVAR model. We first examine all possible channels through which a policy shock is transmitted to each … country. In general the transmission of the shock hides considerable heterogeneity across the countries. We find that the … interest rate channel explain the negative propagation of the US shock to the GDP of Hong Kong, the Philippines and Singapore …
Persistent link: https://www.econbiz.de/10014078963
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Emerging Asia : decoupling or recoupling
Kim, So-yŏng; Lee, Jong-Wha; Park, Cyn-Young - 2009
In this paper, we investigate the degree of real economic interdependence between emerging Asia and major industrial countries to shed light on the heated debate over the "decoupling" of emerging Asia. We first document the evolution of macroeconomic interdependence for emerging Asian economies...
Persistent link: https://www.econbiz.de/10011283453
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The Usual Suspects? : Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - 1998
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivity levels are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10014063516
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The Usual Suspects? : Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - 1997
In this paper the evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, the...
Persistent link: https://www.econbiz.de/10014074079
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Time-Varying Dynamics of the Real Exchange Rate : A Structural VAR Analysis
Mumtaz, Haroon; Sunder-Plassmann, Laura - 2010
The aim of this paper is to explore the evolution of real exchange rate dynamics over time. We use a time-varying structural vector autoregression to investigate the role of demand, supply and nominal shocks and consider their impact on, and contribution to fluctuations in, the real exchange...
Persistent link: https://www.econbiz.de/10014197083
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European Monetary Union : Evidence from Structural Vars
Whitt, Joseph A. - 2014
This paper examines the historical pattern of aggregate demand and supply shocks in several European Monetary System countries in order to assess the desirability of monetary union. Countries with similar patterns of shocks are presumably better candidates for monetary union than those hit by...
Persistent link: https://www.econbiz.de/10014048884
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German wage moderation and European imbalances : feeding the Global VAR with theor
Bettendorf, Timo; León-Ledesma, Miguel A. - 2015
bargaining shock. We then impose these restrictions on a Global VAR consisting of Germany and 8 EMU countries to identify a wage … bargaining shock in Germany. Our results show that, although the German current account was significantly affected by wage …
Persistent link: https://www.econbiz.de/10010532618
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Symmetry and separability in two-country cointegrated VAR models : representation and testing
Krolzig, Hans-Martin; Heinlein, Reinhold - 2013
Introducing the approach by Masanao Aoki (1981) to time series econometrics, we show that the dynamics of symmetric linear possibly cointegrated two-country VAR models can be separated into two autonomous subsystems: the country averages and country differences, where the latter includes the...
Persistent link: https://www.econbiz.de/10010228330