This paper proposes a new method for empirically validate simulation models that generate artificial time series data comparable with real-world data. The approach is based on comparing structures of vector autoregression models which are estimated from both artificial and real-world data by...

Emerging economies have been largely affected by the Fed's quantitative easing (QE) policies. This paper assesses the impact of these measures in terms of key macroeconomic variables for four small open economies in Latin America: Chile, Colombia, Mexico and Peru. We identify a QE policy shock...