Exogenous Shocks
The Impact of Exogenous Shocks on Exits from the Catholic and Protestant Churches in Germany, 1953 2015
... In Germany, exits from the Catholic and Protestant churches have fluctuated considerably over the last 60 years. Much of the observable variation in the annual number of exits can be ex- plained by various ...
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Environmental policy in dynamic models with pollution by consumers: The impact of exogenous shocks and dozy politicians
... In this paper, we focus on the aspect of flexibility. Using the model de- veloped in Barthel (2005) we explore the consequences of exogenous shocks on the economy. In steady state equilibrium models, ...
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Decomposing Simulation Results with Respect to Exogenous Shocks
... of shocks between individual shocks or groups of ...the shocks are partitioned into several groups, and if the contributions attributed to these groups add exactly to the overall simulation result, ...
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Optimal monetary and fiscal policy rules, welfare gains and exogenous shocks in an economy with default risk
... of shocks hitting the economy with default risk, although we do not discuss this topic; 3) welfare gains from conducting optimal monetary and fiscal policy with awareness of default risk when there is an increase ...
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Conviction Function? A New Decision Paradigm for Personal Financial Risk Management in the Face of Large Exogenous Shocks
... The standard model of dynamic programming assumes that the knowledge of parameter is known, thus the learning is complete. Indeed, it is quite possible to argue that an individual agent does not know the true state of ...
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Vulnerability of Southern Mediterranean Countries to Exogenous Shocks: Structural VAR Approach
... domestic shocks, our estimates show that their contribution to the fluctuations of real exchange rate is very ...supply shocks does not exceed, respectively, 11%, 3%, 13% and 10% for Tunisia, Morocco, Egypt ...
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Relocation and Inequalities between Skilled and Unskilled in Northern Countries: Simulation Using a CGE Model
... From our comparative static CGE model in which we will present in the second section, we introduce two exogenous shocks to this: the first is a doubling of ou[r] ...
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Ireland in EMU: More Shocks, Less Insulation?
... key exogenous shocks – the initial fall in interest rates, the two-way swing in the external value of the euro, and the international slow-down following the bursting of the technology bubble – and the ...
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Real and financial sector interaction under liberalisation in an open developing economy
... to exogenous shocks can be derived by totally differentiating the excess demand ...The shocks considered are monetary policy, news, demand (fiscal policy), and supply (organisational ...
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Assessing the transmission of monetary policy shocks using dynamic factor models
... in the economy). This result gives an intuition of why previous studies based on small tri-viriate VARs do not agree on the nature of inflation volatility. The factor model decomposition indicates that the causes of high ...
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A Historical Evaluation of Financial Accelerator Effects in Japan's Economy
... historical exogenous shocks af- fecting the evolution of …rms’ net ...worth shocks, which change the amount of …rms’ debt holdings relative to their total values, produced a large and persistent ...
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What are monetary policy shocks?
... of shocks to trend inflation on macroeconomic dynamics, my main focus is the impact of misspecifi- cations in the reaction function on exogenous interest rate ...on exogenous policy shocks, as ...
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Role of Central Bank in Islamic Finance
... IMF provides lending to member countries for dealing with balance of payments crisis and maintain stability in the economy in the form of Stand-By Arrangements (SBA), Flexible Credit Line (FCL), Emergency Assistance ...
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Macroeconomic instability in Afghanistan: causes and solutions
... and exogenous shocks on the economy, and on the other hand, they are unable to resolve the idiosyncratic, economic and political problems that exist in the ...
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Commodity price formation in boom-and-bust cycles. ECMI Commentary No. 29/June 2011
... Likewise, exogenous factors are also a primary source of price ...other exogenous shocks, such as war tensions and political instability in some Middle Eastern countries, have affected the production ...
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EU Fiscal Stance Vulnerability: Are the Old Members the Gold Members?
... The model described in equation (1) corresponds to a PVAR, because we assume that the dynamics, represented by the different parameters and matrices, are common across the different cross-sectional units (countries) ...
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How Do Different Oil Price Shocks Affect the Relationship Between Oil and Stock Markets?
... demand shocks affect this time-varying correlation greater than supply-side oil price ...price shocks impact on oil-export and oil- import countries’ stock ...price shocks are supply-side ...
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An estimated dynamic stochastic general equilibrium model of the euro area. NBB Working Paper Nr. 35
... DSGE models to capture the empirical stochastics and dynamics in the data. In particular, we compare the predictive performance of the estimated DSGE model with that of Vector Autoregressions (VARs) estimated on the same ...
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DauchySeegert inequality
... We start with an unbalanced panel from the PSID using data from 1967 to 2010. To focus on income risk, rather than variation in consumption due to divorce, widowhood, or other household breaking-up factors, we restrict ...
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The magnitude of the macroeconomic impact of oil price: the case of BRICS
... 4 (2010) have been more precise by asserting that, although the relationship between inflation and oil price experienced weakness from the 2000s in the US, the greater the oil prices volatility, the higher are the ...
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