In the context of a dynamic, stochastic, general equilibrium model, we perform classical maximum-likelihood and Bayesian estimations of the contribution of anticipated shocks to business cycles in the postwar United States. Our theoretical framework is a real-business-cycle model augmented with investment adjustment costs, variable capacity utilization, habit formation in consumption, and prefe...

This paper examines the dynamic effects of oil price shocks in addition to the aggregate supply and demand shocks on macroeconomic fluctuations in four sample economies: Indonesia, Malaysia, Pakistan and Thailand. We aim to discover whether oil price shocks play a crucial role in explaining output and domestic price fluctuation in small emerging economies after 1990s. We are also keen to assess...

We study the joint dynamics of bond yields and macroeconomic variables in a New-Keynesian small open economy model complemented with a no-arbitrage term structure model. With Canadian data, we are able to study the impact of domestic and foreign (US) shocks on the yield curve. The unconditional variance decomposition of the yield level show that the movement of expected short rates is mainly dr...

BACKGROUND AND OBJECTIVES Implantable cardioverter-defibrillators (ICDs) are indicated in patients with Brugada syndrome (BS), early repolarization syndrome (ERS), or idiopathic ventricular fibrillation (IVF) who are at high risk for sudden cardiac death. The optimal ICD programming for reducing inappropriate shocks in these patients remains to be determined. We investigated the difference in t...

Sudden disruptions, or shocks, to food production can adversely impact access to and trade of food commodities. Seafood is the most traded food commodity and is globally important to human nutrition. The seafood production and trade system is exposed to a variety of disruptions including fishery collapses, natural disasters, oil spills, policy changes, and aquaculture disease outbreaks, aquafee...

Abstract. This paper exploits information from the term structure of survey expectations to identify news shocks in a a DSGE model with rational expectations. We estimate a structural business-cycle model with price and wage stickiness. We allow for both unanticipated and anticipated components (“news”) in each structural disturbance: neutral and investment-specific technology shocks, governmen...

We present results from a fully relativistic Monte Carlo simulation of diffusive shock acceleration (DSA) in unmodified shocks. The computer code uses a single algorithmic sequence to smoothly span the range from nonrelativistic speeds to fully relativistic shocks of arbitrary obliquity, providing a powerful consistency check. While known results are obtained for nonrelativistic and ultra-relat...