Modelling large open economies with international linkages: The usa and euro area
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Dungey, Mardi; Osborn, Denise Rae
Description
Empirical modelling of the linkages between the euro area and the USA requires an open economy framework. The methodology proposed in this paper achieves identification of a structural vector error correction model by supplementing restrictions from economic theory with assumptions for the direction of causality in cross-country contemporaneous relationships. Our baseline model assumes contemporaneous causality runs from the USA to the euro area for both output and inflation, with monetary...[Show more]
Collections | ANU Research Publications |
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Date published: | 2013 |
Type: | Journal article |
URI: | http://hdl.handle.net/1885/102641 |
Source: | Journal of Applied Econometrics |
DOI: | 10.1002/jae.2323 |
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01_Dungey_Modelling_large_open_economies_2013.pdf | 648.86 kB | Adobe PDF | Request a copy |
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