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Autore: |
Sosa Sebastian
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Titolo: |
Macroeconomic fluctuations in the Caribbean [[electronic resource] ] : the role of climatic and external shocks / / prepared by Sebastian Sosa and Paul Cashin
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Pubblicazione: | [Washington, D.C.], : International Monetary Fund, Western Hemisphere Dept., 2009 |
Descrizione fisica: | 1 online resource (29 p.) |
Soggetto topico: | Natural disasters - Economic aspects |
Soggetto geografico: | Caribbean Area Economic conditions |
Soggetto genere / forma: | Electronic books. |
Altri autori: |
CashinPaul
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Note generali: | "July 2009." |
Nota di contenuto: | Contents; I. Introduction; II. Econometric Approach; A. Specification and Identification Strategy; B. Block Structure, Variables, and Data; Tables; 1. Block Exogeneity Restrictions of the VAR Model; C. Estimation; III. Business Cycle Responses to External Shocks: Empirical Results; 2. Sources of Business Cycle Fluctuations in the Eastern Caribbean; 3. Climatic Shocks and Output Fluctuations in the ECCU; Figures; 1. Natural Disasters and GDP Growth in the Eastern Caribbean; 2. Response of Real Output to Climatic Shocks; 3. Response of Real Output to Climatic Shocks |
4. Oil Price Shocks and Output Fluctuations in the ECCU4. Response of Real Output to Oil Price Shocks; 5. Real GDP Growth in the Eastern Caribbean and Industrial Countries; 5. External Demand Shocks and Output Fluctuations in the ECCU; 6. Response of Real Output to External Demand Shocks; 6. World Real Interest Rate Shocks and Output Fluctuations in the ECCU; IV. Concluding Remarks; 7. Response of Real Output to World Real Interest Rate Shocks; Appendix Tables; A1. Antigua and Barbuda: Variance Decomposition of Real Output; A2. Dominica: Variance Decomposition of Real Output | |
A3. Grenada: Variance Decomposition of Real OutputA4. St. Kitts and Nevis: Variance Decomposition of Real Output; A5. St. Lucia: Variance Decomposition of Real Output; A6. St. Vincent and the Grenadines: Variance Decomposition of Real Output; References | |
Sommario/riassunto: | 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 fluctuation |
Titolo autorizzato: | Macroeconomic fluctuations in the Caribbean ![]() |
ISBN: | 1-4623-5173-5 |
1-4527-1071-6 | |
1-4518-7306-9 | |
9786612843723 | |
1-282-84372-9 | |
Formato: | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910463999603321 |
Lo trovi qui: | Univ. Federico II |
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