The Nature of Shocks in Europe and in Germany
Bibliographic Data
| ID | 9728413 |
|---|---|
| Authors | Michael Funke (0000-0003-0683-253X, Universität Hamburg, corresponding author) |
| Year | 1997 |
| Volume | 64 |
| Issue | 255 |
| Pages | 461-469 |
| Publication date | 1997-08-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1468-0335.00090 |
| OpenAlex | W2088734000 |
| Language | EN |
| Citations received | 3 |
| References cited | 4 |
The plan for European Monetary Union (EMU) hangs in part on the incidence of aggregate demand and supply shocks in the participating countries. This paper addresses that question empirically, using a bivariate VAR. Identification of the underlying orthogonal demand and supply shocks is achieved using only long‐run restrictions. Data for 16 European countries and 11 West German states ( Länder ) show that the correlation of shocks among the EU countries is much lower than within Germany. This implies that there remain questions about the advisability of EMU
Aggregate demand · Bivariate analysis · Demand shock · Economic history · Economics · European monetary union · European union · Geography · German · International economics · Macroeconomics · Monetary economics · Monetary policy · Supply and demand · Supply shock · Vector autoregression · West germany · German Economic Analysis & Policies · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Citations per year | 0.14 |
|---|---|
| Citation span | 2005 - 2014 (10) |
| Highly cited | No |