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ECCU Business Cycles : : Impact of the U.S. / / Yan Sun, Wendell Samuel



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Autore: Sun Yan Visualizza persona
Titolo: ECCU Business Cycles : : Impact of the U.S. / / Yan Sun, Wendell Samuel Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Edizione: 1st ed.
Descrizione fisica: 1 online resource (25 p.)
Disciplina: 332.152
Soggetto topico: Business cycles - United States
Economics - United States
Balance of payments
Business cycles
Business Fluctuations
Commodity Markets
Commodity prices
Cycles
Diffusion Processes
Dynamic Quantile Regressions
Dynamic Treatment Effect Models
Econometric analysis
Econometrics & economic statistics
Econometrics
Economic Growth of Open Economies
Economic growth
Exports and Imports
Externalities
Financial sector policy and analysis
International economics
International finance
Macroeconomics
Prices
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Remittances
Spillovers
Time-Series Models
Vector autoregression
Soggetto geografico: United States
Altri autori: SamuelWendell  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Contents; I. Introduction; II. Business Cycles and Spillovers; A. Analysis of Business Cycles in the Caribbean; B. Common Trend and Cycle Analysis; C. Transmission of U.S. Shocks to the Caribbean; III. Econometric Methodology and Data; A. The Common Trends and Common Cycles Approach; B. The VAR Analysis; C. The Data; IV. Empirical Results; Tables; 1. Summary Statistics of Real GDP Growth; A. Caribbean Common Trends and Common Cycles; 2. VAR Lag Order Selection; 3. Tests for the Number of Cointegrating Vectors; 4. Growth Elasticities in the Caribbean; B. Spillovers from the U.S. to the ECCU
5. Diagnostics of Growth Elasticity ModelsV. Conclusions and Policy Implications; Figures; 1. Three Common Cycles; 2. Four Common Trends; 3. Caribbean Countries: Cyclical Components of Real GDP; 4. Caribbean Countries: Trend Components of Real GDP; 5. ECCU: Responses to One Percent U.S. Growth Shock; 6. ECCU: Country Responses to One Percent U.S. Growth Shock; 7. Antigua and Barbuda: Responses to One Percent U.S. Growth Shock; References
Sommario/riassunto: With a fixed peg to the U.S. dollar for more than three decades, the tourism-dependent Eastern Caribbean Currency Union (ECCU) countries share a close economic relationship with the U.S. This paper analyzes the impact of the United States on ECCU business cycles and identifies possible transmission channels. Using two different approaches (the common trends and common cycles approach of Vahid and Engle (1993) and the standard VAR analysis), it finds that the ECCU economies are very sensitive to both temporary and permanent movements in the U.S. economy and that such linkages have strengthened over time. There is, however, less clear-cut evidence on the transmission channels. United States monetary policy does not appear to be an important channel of influence, while tourism is important for only one ECCU country.
Titolo autorizzato: ECCU Business Cycles  Visualizza cluster
ISBN: 1-4623-1642-5
1-4527-3796-7
9786612842924
1-4518-7218-6
1-282-84292-7
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910828559103321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/071