Estimating the Impact of External Shocks on the ECCU : Application to the COVID Shock /

We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant effe...

Szczegółowa specyfikacja

Opis bibliograficzny
1. autor: Parlak, Vivian
Kolejni autorzy: Salinas, Gonzalo, Vargas, Mauricio
Format: Czasopismo
Język:English
Wydane: Washington, D.C. : International Monetary Fund, 2021.
Seria:IMF Working Papers; Working Paper ; No. 2021/218
Hasła przedmiotowe:
Dostęp online:Full text available on IMF
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100 1 |a Parlak, Vivian. 
245 1 0 |a Estimating the Impact of External Shocks on the ECCU :   |b Application to the COVID Shock /  |c Vivian Parlak, Gonzalo Salinas, Mauricio Vargas. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (37 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 We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant effects of most of these shocks on output, while only fluctuations in oil prices have significant effects on inflation. Results also suggest a significant impact of FDI and passport sales on the external balance, a link that CCA identifies as the strongest among all analyzed relations. The model also shows how Covid-19 related shocks lead to substantial contractions in output in all ECCU countries and deterioration of the current account balance in most of them, depending on countries' tourism dependency. 
538 |a Mode of access: Internet 
650 7 |a Classification Methods  |2 imf 
650 7 |a Cluster Analysis  |2 imf 
650 7 |a Factor Models  |2 imf 
650 7 |a Multiple or Simultaneous Equation Models  |2 imf 
650 7 |a Principal Components  |2 imf 
700 1 |a Salinas, Gonzalo. 
700 1 |a Vargas, Mauricio. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/218 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/218/001.2021.issue-218-en.xml  |z IMF e-Library