Verfügbarkeit: Macroeconomic Fluctuations in the Caribbean

Macroeconomic Fluctuations in the Caribbean: The Role of Climatic and External Shocks

This paper develops country-specific VAR models with block exogeneity restrictions to analyze how exogenous factors affect business cycles in the Eastern Caribbean. It finds that external shocks play a key role, explaining more than half of macroeconomic fluctuations in the region. Domestic business...

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1. Verfasser:	Sosa, Sebastian (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2009
Schriftenreihe:	IMF Working Papers Working Paper No. 09/159
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Zusammenfassung:	This paper develops country-specific VAR models with block exogeneity restrictions to analyze how exogenous factors affect business cycles in the Eastern Caribbean. It finds that external shocks play a key role, explaining more than half of macroeconomic fluctuations in the region. Domestic business cycles are especially vulnerable to changes in climatic conditions, with a natural disaster leading to an immediate and significant fall in output-but the effects do not appear to be persistent. Oil price and external demand shocks also contribute significantly to domestic macroeconomic fluctuations. An increase in oil prices (external demand) is contractionary (expansionary), and the effects dissipate up to three years after the shock
Beschreibung:	1 Online-Ressource (27 p)
ISBN:	1451873069 9781451873061

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spelling	Sosa, Sebastian Verfasser aut Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks Sosa, Sebastian Washington, D.C International Monetary Fund 2009 1 Online-Ressource (27 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/159 This paper develops country-specific VAR models with block exogeneity restrictions to analyze how exogenous factors affect business cycles in the Eastern Caribbean. It finds that external shocks play a key role, explaining more than half of macroeconomic fluctuations in the region. Domestic business cycles are especially vulnerable to changes in climatic conditions, with a natural disaster leading to an immediate and significant fall in output-but the effects do not appear to be persistent. Oil price and external demand shocks also contribute significantly to domestic macroeconomic fluctuations. An increase in oil prices (external demand) is contractionary (expansionary), and the effects dissipate up to three years after the shock Online-Ausg Cashin, Paul Sonstige oth http://elibrary.imf.org/view/IMF001/10310-9781451873061/10310-9781451873061/10310-9781451873061.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Sosa, Sebastian Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks
title	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks
title_auth	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks
title_exact_search	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks
title_exact_search_txtP	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks
title_full	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks Sosa, Sebastian
title_fullStr	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks Sosa, Sebastian
title_full_unstemmed	Macroeconomic Fluctuations in the Caribbean The Role of Climatic and External Shocks Sosa, Sebastian
title_short	Macroeconomic Fluctuations in the Caribbean
title_sort	macroeconomic fluctuations in the caribbean the role of climatic and external shocks
title_sub	The Role of Climatic and External Shocks
url	http://elibrary.imf.org/view/IMF001/10310-9781451873061/10310-9781451873061/10310-9781451873061.xml
work_keys_str_mv	AT sosasebastian macroeconomicfluctuationsinthecaribbeantheroleofclimaticandexternalshocks AT cashinpaul macroeconomicfluctuationsinthecaribbeantheroleofclimaticandexternalshocks

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