structural shocks
Measuring the Cycle and Structural Shocks
... Cyclical adjustment is important but is unreliable in face of structural shocks. This highlights the need to design a fiscal policy framework that is robust to uncertainty and to avoid important fiscal ...
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Interest Rates and Structural Shocks in European Transition Economies
... demand shocks in both groups of ...to structural shocks during the crisis period follow different path according to their initial change as well as following adjustment on the way to their long-run ...
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Is the East African Community an Optimum Currency Area?
... Despite the importance of this initiative and steps already taken, and whereas the political will continues to gain momentum, there is concern that not enough empirical economic research has been done to buttress the ...
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An Estimated Bayesian DSGE Model for Kazakhstan
... inflationary shocks, whereas in the second case it was due to consumption, risk premium and export income ...productivity shocks account for almost half of the forecast error variance decomposition in ...
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150 Years of Boom and Bust: What Drives Mineral Commodity Prices?
... identified structural shocks in Figure 3 and the accumulated effects of the structural shocks in Figure ...demand shocks” due to the world economic boom at that time (see Kindleberger ...
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Tunisia: Sources Of Real Exchange Rate Fluctuations
... supply shocks accounts for most of the variations in relative output and leads to a permanent increase in ...demand shocks have smaller effects and leave the long run relative output level ...
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Supply, demand and monetary policy shocks in a multi country new Keynesian model
... global shocks to demand, supply or monetary ...such shocks using a multi-country New Keynesian ...of shocks, including Canova and Ciccarelli, 2009 and Dees, di Mauro, Pesaran and Smith (2007, DdPS) ...
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An estimated dynamic stochastic general equilibrium model of the euro area. NBB Working Paper Nr. 35
... of structural shocks -- two “supply” shocks (a productivity and labour supply shock), three “demand” shocks (a preference, an investment and a government spending shock), three mark-up ...
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OPEC and non OPEC oil production and the global economy
... positive shocks to non- OPEC oil production in the earlier period, but does not do so in the “new industrial ...positive shocks to non-OPEC oil production is larger in absolute value than that of positive ...
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Structural VAR identification of the Turkish business cycles
... of structural shocks on output fluctuations through a priori restrictions on economic theory using SVAR methodology of Blanchard and Quah (1989: 655-673), we try to construct a SVAR model of the Turkish ...
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Does Foreign Direct Investment really affect Ghana’s Economic Growth?
... In this paper we ascertain the nexus between FDI and economic growth in the Ghanaian context within the broader increasingly competitive world market for FDI based on macro econometric modeling. We identify the ...
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Exchange Rate Pass Through and Structural Macroeconomic Shocks in Developing Countries: An Empirical Investigation
... of structural shocks in the presence of ...First, structural shocks are decomposed into permanent shocks and transitory shocks, which depend on the number of common stochastic ...
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Why are crude oil prices high when global activity is weak?
... The early part of the period in Figure 3 reflects the recovery from the Asian financial crisis and world petroleum consumption returning to strong growth in 1999 and then the onset of recession in the U.S. beginning in ...
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The Impact of ICT Shocks on Business Cycle Some Evidence from Iran
... technology shocks reduced working hours in the US as well as all other G7 economies except ...technology shocks on employment cannot be reconciled with standard versions of RBC models and is more consistent ...
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Numerical Simulations of Self-Oscillatory Flows near Blunted Bodies, Giving off Opposite Jets
... So, if some closed flow contains the tail shock, this shock crosses both contact discontinuities, consequently, two new intersection points appear. This new intersection points may interact one with another or with the ...
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New Zealand Labour Market Dynamics Pre and post global financial crisis
... policy shocks and two measures of labour market institutions: the growth rates of the minimum wage to average wage ratio and the union ...unanticipated shocks have real ...policy shocks have no ...
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External Shocks and the Indian Economy: Analyzing through a Small, Structural Quarterly Macroeconometric Model
... our structural quarterly macroeconometric model, in the baseline scenario, the study finds that Indian economy was already in a slowdown phase even before the global ...
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Real economy causes of the Great Deprivation of early 21st Century
... Reduction of broadly construed economic inequality by use of such a policy mix as provision of resources and incentives for education and acquisition of skills as part of a coherent human-capital development plan is a ...
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Oil Price Shocks and Inflation Dynamics in Nigeria: Sensitivity of Unit Root to Structural Breaks
... for structural breaks in series as volatile as oil price in Nigerian specific studies, this study sought to find out whether structural breaks matter in studying the response of inflation to oil price ...
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EU Fiscal Stance Vulnerability: Are the Old Members the Gold Members?
... We found that government revenues increase after the terms of trade, government expenditure, GDP and government revenue shocks. In contrast, they tend to decline after the price shock. The EU countries get into ...
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