Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/66930 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Bank of Canada Discussion Paper No. 2011-1
Verlag: 
Bank of Canada, Ottawa
Zusammenfassung: 
The authors investigate financial spillovers across countries with an emphasis on the effect of shocks to financial conditions in the United States on financial conditions and economic activity in Canada. These questions are addressed within a global vector autoregression model. The framework links individual country vector autoregression models in which the domestic variables are related to the country-specific foreign variables. The authors' results highlight the importance of financial variables in the transmission of shocks to real activity and financial conditions in the United States to Canada. First, they show that shocks to U.S. output are transmitted quickly to Canada, with important implications for financial conditions. Second, they show that the most important source of financial transmission between the United States and Canada is through shocks to U.S. equity prices. Financial transmission through movements in the quantity of U.S. credit is also important for Canada.
Schlagwörter: 
Business fluctuations and cycles
Economic models
Financial stability
International topics
JEL: 
E27
E32
F36
F40
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
604.89 kB





Publikationen in EconStor sind urheberrechtlich geschützt.