| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4035 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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