We develop a generalised impulse response function (GIRF) approach to explore the different impacts of aggregate and sectoral shocks within a VAR-GARCH-M model. Using the output of our GIRF analysis, we explore the behaviour of three European countries (Germany, Spain and the UK). We analyse the...

In this paper we describe the EAR (regional economic accessibility) model to investigate the impact of the improvement of railroad infrastructure on regional GDP, population and firms growth in 99 Austrian regions. We evaluate the impact of four potential railroad infrastructure investment...