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Title:Country-specific and global shocks in the business cycle PDF Logo
Authors:Gross, Daniel
Issue Date:2001
Series/Report no.:CFS Working Paper 2001/11
Abstract:Industrial production in G7 countries is assumed to be driven by two exogenous disturbances. Those disturbances are identified in a VAR model so they can be interpreted as countryspecific and global supply shocks. The dynamic properties of the model are analyzed and the relative importance of each shock is measured. It is shown that the VAR model matches most of the theoretical predictions of standard intertemporal open-economy models. The identified structural disturbances are analyzed with regard to their impact on the current account and investment.
Subjects:Country-Specific and Global Shocks
VAR, RBC
JEL:E32
F41
Persistent Identifier of the first edition:urn:nbn:de:hebis:30-9889
Document Type:Working Paper
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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