| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8825 |
| DP8825 The effects of global shocks on small commodity-exporting economies: New evidence from Canada | |
| Juan Dolado | |
| 发表日期 | 2012-02-01 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper presents a structural dynamic factor model of a small commodity-exporting economy using Canada as a representative case study. Combining large panel data sets of the global and Canadian economies, we first identify those demand and supply shocks that explain most of the volatility in real commodity prices. Next we quantify their dynamic effects on a wide variety of variables for this economy. We are able to reproduce all the main stylized facts documented in the literature about business cycles in these countries. This includes spending and Dutch disease effects which have proven difficult to find in models where the innovations to commodity prices are not properly identified. Our results are quite robust to different identification schemes of the shocks. |
| 主题 | International Macroeconomics |
| 关键词 | Commodity exports Commodity prices Business cycles Factor models Vars |
| URL | https://cepr.org/publications/dp8825 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537661 |
| 推荐引用方式 GB/T 7714 | Juan Dolado. DP8825 The effects of global shocks on small commodity-exporting economies: New evidence from Canada. 2012. |
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