Trade Linkages and Output-Multiplier Effects: a Structural VAR Approach with a Focus on Asia
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چکیده
This paper develops a structural VAR model to measure how a shock to one country affects other countries’ GDP. It uses trade linkages to estimate the multiplier effects as a shock is transmitted through output fluctuations and introduces a new specification strategy that reduces the number of unknowns and allows cross-country relationships to vary over time.This model is used to examine the impact of shocks to 11 Asian countries, the US, and the rest of the OECD. Impulse-response matrices suggest that these multiplier effects are large and can transmit shocks in very different patterns than predicted from a bilateral-trade matrix.
منابع مشابه
Trade Linkages and Output-multiplier Effects: a Structural Var Approach with a Focus on Asia Trade Linkages and Output-multiplier Effects: a Structural Var Approach with a Focus on Asia
This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries’ output fluctuations. The paper introduces a new specification strategy that significantly reduces the number of unknowns and allows cross-country relationships to...
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تاریخ انتشار 2005