Macroeconomic effects of productivity shocks - a VAR model of a small open economy (CROSBI ID 636874)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Arčabić, Vladimir ; Globan, Tomislav ; Nadoveza, Ozana ; Rogić Dumančić, Lucija ; Tica, Josip
engleski
Macroeconomic effects of productivity shocks - a VAR model of a small open economy
The paper compares theoretical impulse response functions from a DSGE model for a small open economy with an empirical five variable VAR model estimated for the Croatian economy. In the paper we analyse the impact of productivity shock on the selected macroeconomic variables: domestic output gap, nominal interest rate, CPI inflation and terms of trade. The impulse responses from the empirical VAR model do not resemble those from the theoretical one for all the variables in any proposed monetary regimes. Results of modelling simultaneous interrelationships between variables also support the results that the productivity shocks do not play a significant role in determining the variation of selected macroeconomic variables in the case of the Croatian economy.
DSGE ; productivity shocks ; small open economy ; exchange rate ; Croatia
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Podaci o prilogu
358-365.
2016.
objavljeno
Podaci o matičnoj publikaciji
8th International Conference "An Enterprise Odyssey: Saving the Sinking Ship Through Human Capital" Proceedings
Galetić, Lovorka ; Načinović Braje, Ivana ; Jaković, Božidar
Zagreb: Ekonomski fakultet Sveučilišta u Zagrebu
978-953-346-027-7
Podaci o skupu
8th International Conference "An Enterprise Odyssey: Saving the Sinking SHip Through Human Capital
predavanje
08.06.2016-11.06.2016
Zagreb, Hrvatska