Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25109
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dc.contributor.authorMaćkowiak, Bartoszen_US
dc.date.accessioned2006-05-29en_US
dc.date.accessioned2009-07-23T14:43:43Z-
dc.date.available2009-07-23T14:43:43Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/25109-
dc.description.abstractUsing structural VARs, I find that external shocks are an important source of macroeconomic fluctuations in emerging markets. Furthermore, U.S. monetary policy shocks affect quickly and strongly interest rates and the exchange rate in a typical emerging market. The price level and real output in a typical emerging market respond to U.S. monetary policy shocks by more than the price level and real output in the U.S. itself. These findings are consistent with the idea that when the U.S. sneezes, emerging markets catch a cold. At the same time, U.S. monetary policy shocks are not important for emerging markets relative to other kinds of external shocks.en_US
dc.language.isoengen_US
dc.publisher|aSFB 649, Economic Risk|cBerlinen_US
dc.relation.ispartofseries|aSFB 649 discussion paper|x2006,026en_US
dc.subject.jelF41en_US
dc.subject.jelE3en_US
dc.subject.jelO11en_US
dc.subject.ddc330en_US
dc.subject.keywordStructural vector autoregressionen_US
dc.subject.keywordmonetary policy shocksen_US
dc.subject.keywordinternational spillover effects of monetary policyen_US
dc.subject.keywordexternal shocksen_US
dc.subject.keywordemerging marketsen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwAmerikanischen_US
dc.subject.stwSchocken_US
dc.subject.stwInflationsübertragungen_US
dc.subject.stwKonjunkturzusammenhangen_US
dc.subject.stwInternationaler Preiszusammenhangen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwAufstrebende Märkteen_US
dc.subject.stwTheorieen_US
dc.subject.stwSchwellenländeren_US
dc.titleExternal shocks, US monetary policy and macroeconomic fluctuations in merging marketsen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn51247558Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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