G2TT
来源类型Discussion paper
规范类型论文
来源IDDP4035
DP4035 Dynamic Yardstick Regulation
Antoine Faure-Grimaud; Sönje Kerrin Reiche
发表日期2003-08-23
出版年2003
语种英语
摘要I study whether and how US shocks are transmitted to eight Latin American countries. US shocks are identified using the procedure of Canova and De Nicolo? (2002) and treated as exogenous with respect to Latin American economies. Posterior estimates for individual and average effects are constructed. US Monetary shocks produce significant fluctuations in Latin America, but real demand and supply shocks do not. Floaters and currency boarders display similar output responses but different inflation and interest rate responses. The financial channel plays a crucial role in the transmission. US disturbances explain important portions of the variability Latin American macrovariables, produce continental cyclical fluctuations and, in two episodes, destabilizing nominal exchange rate effects. Policy implications are discussed.
主题International Macroeconomics
关键词Structural shocks Business cycles Exchange rate regimes Bayesian methods
URLhttps://cepr.org/publications/dp4035
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/533010
推荐引用方式
GB/T 7714
Antoine Faure-Grimaud,Sönje Kerrin Reiche. DP4035 Dynamic Yardstick Regulation. 2003.
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