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External shocks and business cycle fluctuations in oil-exporting small open economies

Oladunni, Sunday - In: CBN Journal of Applied Statistics 10 (2019) 2, pp. 39-71

impact of the global demand shock on output growth, Nigeria can manage its vulnerability by shrinking the size of oil exports … dominant external drivers of the business cycle in Nigeria. Results show that global demand and oil price shocks are the … principal foreign drivers of the Nigerian business cycle. The global demand shock elicits the strongest responses from output …

Persistent link: https://www.econbiz.de/10012229207

News-driven uncertainty fluctuations

Song, Dongho; Tang, Jenny - 2018 - This version: January 2018

We embed a news shock, a noisy indicator of the future state, in a two-state Markovswitching growth model. Our …

Persistent link: https://www.econbiz.de/10011894302

Macroeconomic responses of emerging market economies to oil price shocks:analysis by region and resource profile

Togonidze, Sophio; Kočenda, Evžen - 2020

response of output growth and capital to a positive US interest rate shock is negative and significant in EMs. Our results are …

Persistent link: https://www.econbiz.de/10012289734

The drivers of inflation in Korea : insights from a small open DSGE model

Kim, Kyunghun - In: East Asian economic review 29 (2025) 1, pp. 41-76

This study analyzes the drivers of inflation in South Korea using a Dynamic Stochastic General Equilibrium (DSGE) model tailored to the characteristics of Korea as a small open economy. Employing quarterly data from 1999Q2 to 2023Q2, Bayesian estimation is used to estimate Korea-specific...

Persistent link: https://www.econbiz.de/10015418135

Foreign Shocks as Granular Fluctuations

Di Giovanni, Julian; Levchenko, Andrei A.; Méjean, Isabelle - 2020

This paper uses a data set covering the universe of French firm-level sales, imports, and exports over the period 1993-2007 and a quantitative multi-country model to study the international transmission of business cycle shocks at both the micro and the macro levels. The largest firms are both...

Persistent link: https://www.econbiz.de/10014090698

A small New Keynesian model to analyze business cycle dynamics in Poland and Romania

Nalban, Valeriu - In: Contemporary economics 9 (2015) 3, pp. 319-336

observed variables. Shock decompositions of the output and the inflation rate revealed the driving forces of the business …

Persistent link: https://www.econbiz.de/10011392289

Impact of real shocks on business cycles in selected Sub-Saharan African countries

Amu, Barnabas; Osabuohien, Evans; Alege, Philip; … - In: Cogent business & management 8 (2021) 1, pp. 1-18

This study examines business cycle fluctuations in selected Sub-Saharan African (SSA) countries. The study measures the impact of selected real shocks, namely: terms of trade shocks, commodity price shocks, and government spending shocks, on macroeconomic fluctuations in SSA. The impact of the...

Persistent link: https://www.econbiz.de/10012668468

What drives the business cycle in a small open economy? : evidence from an estimated DSGE Model of the Danish economy

Pedersen, Jesper; Ravn, Søren Hove - 2013

Estimated DSGE models have become the standard workhorse model for empirically based macroeconomic analysis in recent years. In this paper, we present an estimated DSGE model for Denmark. The model has been estimated using Bayesian methods and a dataset consisting of 23 macroeconomic variables....

Persistent link: https://www.econbiz.de/10010224820

Macroeconomic implications of oil-price shocks to emerging economies : a Markov regime-switching approach

Togonidze, Sophio; Kočenda, Evžen - 2022

We investigate an impact of oil-price shocks on GDP and exchange rate dynamics in resource-heterogeneous economies. We employ a Markov regime-switching version of a vector autoregressive (VAR) model to allow for regime shifts, non-linear effects and timevarying parameters of the VAR process....

Persistent link: https://www.econbiz.de/10013369064

Monetary policy in a small open economy model : a DSGE-VAR approach for Switzerland

Bäurle, Gregor; Menz, Tobias - 2008

We study the transmission of monetary shocks and monetary policy with a behavioral model, corrected for potential misspecification using the DSGE-VAR framework elaborated by DelNegro and Schorfheide (2004). In particular, we investigate if the central bank should react to movements in the...

Persistent link: https://www.econbiz.de/10003882303