haku: @indexterm Macroeconomics / yhteensä: 544
viite: 140 / 544
| Tekijä: | Ballabriga, F. Sebastian, M. Valles, J. |
| Otsikko: | European asymmetries |
| Lehti: | Journal of International Economics
1999 : AUG, VOL. 48:2, p. 233-253 |
| Asiasana: | Exchange rates Macroeconomics Europe |
| Kieli: | eng |
| Tiivistelmä: | The degree of symmetry of the shocks causing macroeconomic fluctuations in the different European economies is a basic consideration when evaluating the cost in terms of loss of the nominal exchange rate as instrument for short-term macroeconomic adjustment. The more symmetrical these shocks, the lower the costs. This paper uses structural Bayesian Vector Autoregressive (BVAR) approach and quarterly data from 1970 to 1996 to characterize the responses to common and specific, nominal and real, shocks in four European economies. The findings suggest that, in the short run, asymmetrical shocks have dominated. |
SCIMA