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dc.contributor.authorMaćkowiak, Bartoszen
dc.date.accessioned2006-05-29-
dc.date.accessioned2009-07-23T14:43:43Z-
dc.date.available2009-07-23T14:43:43Z-
dc.date.issued2006-
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2006,026en
dc.subject.jelF41en
dc.subject.jelE3en
dc.subject.jelO11en
dc.subject.ddc330en
dc.subject.keywordStructural vector autoregressionen
dc.subject.keywordmonetary policy shocksen
dc.subject.keywordinternational spillover effects of monetary policyen
dc.subject.keywordexternal shocksen
dc.subject.keywordemerging marketsen
dc.subject.stwGeldpolitiken
dc.subject.stwAmerikanischen
dc.subject.stwSchocken
dc.subject.stwInflationsübertragungen
dc.subject.stwKonjunkturzusammenhangen
dc.subject.stwInternationaler Preiszusammenhangen
dc.subject.stwVAR-Modellen
dc.subject.stwAufstrebende Märkteen
dc.subject.stwTheorieen
dc.subject.stwSchwellenländeren
dc.titleExternal shocks, US monetary policy and macroeconomic fluctuations in merging markets-
dc.type|aWorking Paperen
dc.identifier.ppn51247558Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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