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dc.contributor.authorEickmeier, Sandraen_US
dc.date.accessioned2009-01-28T15:58:51Z-
dc.date.available2009-01-28T15:58:51Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19479-
dc.description.abstractThis paper investigates the transmission of US macroeconomic shocks to Germany by employing a large-dimensional structural dynamic factor model. This framework allows us to investigate many transmission channels simultaneously, including 'new' channels like stock markets, foreign direct investment, bank lending and the confidence channel. We find that US shocks affect the US and Germany largely symmetrically. Trade and monetary policy reactions to strong price effects seem to be most relevant; financial markets may have become more important over time. The speed of transmission does not seem to have increased. Negative domestic influences apparently more than compensated positive US influences in the German economy between 1995 and 2000, but the US recession in 2001 seemed mainly responsible for the German slump.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,12en_US
dc.subject.jelF41en_US
dc.subject.jelC13en_US
dc.subject.jelC32en_US
dc.subject.jelF02en_US
dc.subject.ddc330en_US
dc.subject.keywordInternational business cyclesen_US
dc.subject.keywordinternational transmission channelsen_US
dc.subject.keyworddynamic factor modelsen_US
dc.subject.keywordstructural VAR techniquesen_US
dc.subject.stwKonjunkturzusammenhangen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwVereinigte Staatenen_US
dc.subject.stwDeutschlanden_US
dc.titleBusiness Cycle Transmission from the US to Germany: a Structural Factor Approachen_US
dc.typeWorking Paperen_US
dc.identifier.ppn389247154en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:2021-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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