We investigate the international propagation of tax rate shocks originating in USA using a global vector error correction model. identify to corporate and personal income rates by narrative series as external instruments, following proxy-SVAR methodology. The main results are following: (1) In terms fiscal multiplier, domestic effects stronger than those shock; (2) spillovers most cases positiv...

Both sides of the institutions and growth debate have resorted largely to microeconometric techniques in testing hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short panel of 119 countries over 10 years and find support for the institutions hypothesis. Controlling for individual fixed effects, I find that exogenous shocks to a proxy for institutio...

In this study, it is aimed to explain the effects of trade wars, which are mostly caused by new protectionism practices, on world economy. direction, an empirical model created using SVAR analysis for period 1990-2020. Application findings show that tools and policies have permanent in short term; however, these disappear long term. Trade wars no winners. If main goal, run, increase welfare eco...

This paper analyzes the transmission mechanisms of a contractionary monetary policy shock on the real economy. The sufficiently long regime uniform time period since the political transformation in the Czech Republic provides evidence for effective inflation targeting by the Czech National Bank. I apply a recursive vector autoregression (VAR), a structural VAR, and structural vector error corre...

In this paper, we take a step forward from the existing monetary literature, which is largely dominated by vector autoregressive (VAR) and structural vector autoregressive (SVAR) models, and apply a vector autoregressive moving average (VARMA) methodology for modelling and analysing Malaysian monetary policy. The Malaysian economy is an interesting case study of a small open economy with capita...

Based on data from March 2008 to June 2020, we use the TVP-SVAR-SV model study time-varying impact of economic policy uncertainty Chinese commodity prices and analyze effect in different periods. The results show that: Firstly, has a significant prices, short-term is larger than long-term effect. Secondly, positively affects during stock market crash 2015; negatively global financial crisis Dec...

This study examines the asymmetric effects of structural oil price shocks and COVID-19 pandemic on four uncertainty indexes. The author used SVAR approach for period 31-Dec-2019 to 28-Jun-2020. results indicate that are shocks. also finds lead positive responses economic policy index. In addition, prices (their shocks) have a negative impact indicators uncertainty. Consequently, governments sho...