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Chen, Ruo - 2014

The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of...

Persistent link: https://www.econbiz.de/10013063950

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

Parlak, Vivian; Salinas, Gonzalo; Vargas, Jose - 2022

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...

Persistent link: https://www.econbiz.de/10013306756

After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean

Gruss, Bertrand - 2014

After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011 - and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for...

Persistent link: https://www.econbiz.de/10013047969

Flying to Paradise : The Role of Airlift in the Caribbean Tourism Industry

Acevedo Mejia, Sebastian - 2016

This paper studies the role of airlift supply on the tourism sector in the Caribbean. The paper examines the relative importance of U.S.-Caribbean airlift supply factors such as the number of flights, seats, airlines, and departure cities on U.S. tourist arrivals. The possible endogeneity...

Persistent link: https://www.econbiz.de/10012996069

Global and Regional Spillovers to Pacific Island Countries

Sheridan, Niamh - 2012

over the last two decades. PICs have become more exposed to the region's business cycles, and spillovers from regional …, we use a Vector Error Correction Model (VECM) for each PIC to gauge the impact of global and regional growth spillovers … even larger than from a negative global demand shock. We also assess the spillovers to the financial sector from the …

Persistent link: https://www.econbiz.de/10013102205

India's Growth Spillovers to South Asia

Ding, Ding - 2012

This study investigates the role of India's economy in explaining the observed growth in South Asia, taking into consideration other sources of growth endogenous to the countries in the region. Since a review of key variables indicates that India's bilateral trade and financial linkages with...

Persistent link: https://www.econbiz.de/10013110084

Spillovers to Low-Income Countries : Importance of Systemic Emerging Markets

Espinoza, Raphael A. - 2012

This paper documents the expanding economic linkages between low-income countries (LICs) and a narrow group of "Emerging Market leaders" that have become major players in regional and global trade and financial flows. VAR models show that these linkages have increased the share of growth...

Persistent link: https://www.econbiz.de/10013110091

Spillovers from Global and Regional Shocks to Armenia

Ayvazyan, Knarik - 2016

Using a structural vector auto-regression (SVAR) model, this paper examines the size, geographical sources, and transmission channels of global and regional shocks to the Armenian economy. Results show that Armenian economic activity is strongly influenced by global demand shocks and changes in...

Persistent link: https://www.econbiz.de/10012999760

Intra-Regional Spillovers in South America : Is Brazil Systemic after All?

Moreno Badia, Marialuz - 2015

is not. Spillovers can take two different forms: the transmission of Brazil-specific shocks and the amplification of …

Persistent link: https://www.econbiz.de/10013037155

Real Sectoral Spillovers : A Dynamic Factor Analysis of the Great Recession

Li, Nan - 2018

.S. nonfarm business sectors during the Great Recession, andevaluates the cross-sectoral spillovers. Shocks are identified by … for 3/4 of aggregate volatility-and large spillovers of negative financerelatedshocks. Moreover, in contrast with the … across sectors) indriving variability in aggregate industry output, this study allows spillovers of shocks tooperate through …

Persistent link: https://www.econbiz.de/10012913944