Cross-Country Linkages in Europe : A Global VAR Analysis /

This paper uses the Global VAR (GVAR) model proposed by Pesaran and others (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, et cetera), and the Central, Eastern and Southeastern European (CESEE) countries. An innovati...

Полное описание

Библиографические подробности
Главный автор: Sun, Yan
Другие авторы: Heinz, Frigyes, Ho, Giang
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 2013.
Серии:IMF Working Papers; Working Paper ; No. 2013/194
Online-ссылка:Full text available on IMF
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245 1 0 |a Cross-Country Linkages in Europe :   |b A Global VAR Analysis /  |c Yan Sun, Frigyes Heinz, Giang Ho. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (74 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper uses the Global VAR (GVAR) model proposed by Pesaran and others (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, et cetera), and the Central, Eastern and Southeastern European (CESEE) countries. An innovative feature of the paper is the use of combined trade and financial weights (based on BIS reporting banks' external position data) to capture the very close trade and financial ties of the CESEE countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of economic influences, there are also interesting subregional linkages, e.g. between the Nordic and the Baltic countries, and a small but notable impact of CESEE countries on the rest of the Europe. 
538 |a Mode of access: Internet 
700 1 |a Heinz, Frigyes. 
700 1 |a Ho, Giang. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/194 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/194/001.2013.issue-194-en.xml  |z IMF e-Library