The role of non-policy structural shocks
Structural oil price shocks and policy uncertainty
... these structural oil shocks provides information on how the structural oil price shocks have contributed to economic policy uncertainty over ...supply shocks to economic ...
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Monetary Policy, Investment and Non-Fundamental Shocks
... monetary policy regime and, in their 1999 influential paper, Ben Bernanke and Mark Gertler argue that that regime will always deliver the best result either there is a bubble or ...”monetary policy should ...
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International Shocks and the Role of Domestic Policy in Australia
... Unfortunately, the forecast error variance decomposition can be quite misleading. In the presence of over-identifying restrictions in the VAR, such as in this model, the assumption that the individual error terms are ...
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The Role of Subsidy Policy in Oil Price Shocks: The Moroccan Case
... activity were identified. Some studies (Rasch and Tatom (1981), Brumo and Sachs (1982) and Darby (1982)) explained the negative impact of oil price on economic activity by the supply side. In this case, the oil price ...
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Measuring the Cycle and Structural Shocks
... structural shocks. This highlights the need to design a fiscal policy framework that is robust to uncertainty and to avoid important fiscal decisions being driven by arbitrary forecasting ...fiscal ...
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Macroeconomic effects of fiscal policy shocks in Morocco : A linear structural VAR analysis
... fiscal policy on economic activity in ...a structural autoregressive vector (VAR) of five variables is estimated and identified using the recursive approach and Blanchard and Perotti’s approach ...
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Oil Price Shocks and Monetary Policy Aggregates in Nigeria: A Structural VAR Approach
... stabilization policy for the sustenance of macroeconomic ...monetary policy distortions and external shocks are transmitted to other sectors of the ...
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Central bank policy under significant balance-of-payment shocks and structural shifts
... balance-of-payment shocks the Russian economy has faced over the past few years, as well as the monetary policy options to be used in ...monetary policy transmission channels, the liquidity situation ...
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The role of South Africa in global structural policy
... As explained above, democratization and human rights were initially cornerstones of the post-1994 foreign policy. They remain tenets of the NEPAD programme. But dilemmas have emerged that have resulted in ...
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The role of structural common and country-specific shocks in the business cycle dynamics of the G7 countries
... 3.2. International Business Cycle Co-movement: Descriptive Analysis Table 1 shows that output cycles of the G7 countries have been positively and highly correlated over the entire sample period. 5 Japanese output cycles ...
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The role of structural common and country-specific shocks in the business cycle dynamics of the G7 countries
... 3.2. International Business Cycle Co-movement: Descriptive Analysis Table 1 shows that output cycles of the G7 countries have been positively and highly correlated over the entire sample period. 5 Japanese output cycles ...
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Identification of Technology Shocks in Structural VARs
... minor role in the postwar period and especially at low frequencies of output ...and non-technology and the associated dynamic responses than hours ...
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Structural changes in the US economy: is there a role for monetary policy?
... exogenous shocks spread across sectors and propagate over ...monetary policy was ”loose” in fighting inflation in the 1970s but became more aggressive since the early 1980s and see in this change of ...
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On the inadmissibility of non-evolutionary shocks
... containing non-evolutionary ...these shocks to split into evolutionary shocks, this Riemann problem must be structurally ...a non-evolutionary shock, a 1 → 4 shock, is required is a piston ...
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What are monetary policy shocks?
... seven structural shocks to inflation, interest rate, hours and output by calibrating the fixed target model with the parameters obtained from the model with a time varying inflation ...monetary ...
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The transmission of monetary policy shocks
... etary policy shocks on a large and heterogenous set of both macroeconomic and fin- ancial variables, as well as on private sector expectations, and medium and long-term interest ...of policy on the ...
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The transmission of monetary policy shocks
... etary policy shocks on a large and heterogenous set of both macroeconomic and fin- ancial variables, as well as on private sector expectations, and medium and long-term interest ...of policy on the ...
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Financial Shocks and Optimal Policy
... recapitalization if features such as adverse selection, moral hazard, and tax distortions were present. To our knowledge, the corporate finance literature notes the prevalence of dividend smoothing but does not go beyond ...
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The Timing of Monetary Policy Shocks
... the non-policy variables in the third quarter, and so ...monetary policy shock, according to the quarter in which the shock ...standard non-time-dependent VAR, to obtain the following ...
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The Possible Role of Non-Structural Carbohydrates in the Regulation of Tree Hydraulics
... mortality. Non-structural carbohydrates (NSC) play key roles in plant responses to drought and frost stress, and several studies putatively suggest their involvement in the regulation of xylem water ...
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