This paper revisits the issue of identification of aggregate demand and supply shocks in ASEAN countries using an alternative identification scheme where the aggregate demand and supply shocks are allowed to be correlated. Applying the technique of Cover, Enders, and Hueng (2006) within a...

This paper models the role of monetary policy in the Australian housing market using structural vector autoregression model. Our results show that a contractionary monetary policy significantly reduces housing activity but does not exert any significant negative effect on the real house prices....

This paper revisits the link between oil price uncertainty and macroeconomy in the context of a net oil exporting country, Canada. Results obtained from alternative Structural VAR models suggest that while shocks to oil price level do not affect the aggregate level of output, the oil price...