| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14547 |
| 来源ID | Working Paper 14547 |
| Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances? | |
| Alejandro Justiniano; Bruce Preston | |
| 发表日期 | 2008-12-11 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper demonstrates that an estimated, structural, small open economy model of the Canadian economy cannot account for the substantial influence of foreign-sourced disturbances identified in numerous reduced-form studies. The benchmark model assumes uncorrelated shocks across countries and implies that U.S. shocks account for less than 3 percent of the variability observed in several Canadian series, at all forecast horizons. Accordingly, model-implied cross-correlation functions between Canada and U.S. are essentially zero. Both findings are at odds with the data. A specification that assumes correlated cross-country shocks partially resolves this discrepancy, but still falls well short of matching reduced-form evidence. |
| 主题 | International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w14547 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572222 |
| 推荐引用方式 GB/T 7714 | Alejandro Justiniano,Bruce Preston. Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14547.pdf（275KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
