Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17970
Authors: 
Chen, Pu
Schneider, Elena
Frohn, Joachim
Year of Publication: 
2007
Series/Report no.: 
Economics Discussion Papers / Institut für Weltwirtschaft 2007-47
Abstract: 
The objective of this paper is to apply the method developed in Garratt, Lee, Pesaran, and Shin (2000) to build a structural model for Germany with a transparent and theoretically coherent foundation. The modelling strategy consists of a set of long-run structural relationships suggested by economic theory and an otherwise unrestricted VAR model. It turns out that we can rebuild the structure of the model in Garratt, Lee, Pesaran, and Shin (2003b) for German data. Five long run relations : PPP, UIP, production function, trade balance, and real money balance characterize the equilibrium state of Germany as an open economy in our structural model.
Subjects: 
Long-Run Structural VAR
Macroeconomic Modelling
A structural Model for Germany
Oil Price Shock
JEL: 
C32
E24
Creative Commons License: 
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type: 
Working Paper

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