Spatial propagation of macroeconomic shocks in Europe

被引：0
|
作者：
Hans Dewachter
Romain Houssa
Priscilla Toffano
机构：
[1] National Bank of Belgium (NBB),
[2] CES,undefined
[3] University of Leuven,undefined
[4] CESifo,undefined
[5] CRED and CeReFiM-University of Namur,undefined
来源：
Review of World Economics | 2012年 / 148卷
关键词：
Macroeconomics; Spatial models; VAR; E3; E43; E52; C51; C33;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This paper implements a spatial vector autoregressive model that takes into account both the time and the spatial dimensions of economic shocks. We apply this framework to analyze the propagation through space and time of macroeconomic (inflation, output gap and interest rate) shocks in Europe. The empirical analysis identifies an economically and statistically significant spatial component in the transmission of macroeconomic shocks in Europe.
引用
收藏
页码：377 / 402
页数：25
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