The main goal of the paper is to extract the aggregate demand and aggregate supply shocks in Greece, Ireland, Italy and Portugal, as well as to examine the correlation among the two types of shocks. The decomposition of the shocks was achieved by using a structural vector autoregression that...

The objective of this study is to identify the demand and supply shocks affecting 13 EU member states and to estimate their degree of correlation with the Euro area shocks. This research ensures identifying the asymmetry of shocks degree with the monetary union, depending on which it’s judging...