Sato, K.; Zhang, Z.; McAleer, M.J. - Erasmus University Rotterdam, Econometric Institute - 2009
In this paper we use a structural VAR model with block exogeneity to investigate if external shocks originating from the USA played a dominant role in influencing the macroeconomic fluctuations in East Asia during the period 1978-2007. The empirical results show a dynamic effect of external...