The Spillover Effect of Euro Area on Central and Southeastern European Economies: A Global VAR Approach
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F16%3A10323060" target="_blank" >RIV/00216208:11230/16:10323060 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1007/s11079-015-9378-4" target="_blank" >http://dx.doi.org/10.1007/s11079-015-9378-4</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/s11079-015-9378-4" target="_blank" >10.1007/s11079-015-9378-4</a>
Alternative languages
Result language
angličtina
Original language name
The Spillover Effect of Euro Area on Central and Southeastern European Economies: A Global VAR Approach
Original language description
We use the global vector autoregression model to examine macroeconomic spillovers within the European Union over the period 2000-2014. We investigate how shocks originating in the euro area affect output and prices in the rest of Europe. We examine four different policy relevant shock scenarios: (i) increase in the euro area interest rate; (ii) increase in the euro area industrial production; (iii) decrease in the euro area consumer prices and (iv) decrease in global oil prices. In general, we find that these shocks have an effect of same (and expected) sign but of different size across the European Union. Our results suggest that the response of Central European countries to the euro area shocks is almost as strong as the response of the euro area countries itself. On the other hand, our results indicate that South East Europe is somewhat less sensitive to the euro area shocks and oil price shocks.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GBP402%2F12%2FG097" target="_blank" >GBP402/12/G097: DYME-Dynamic Models in Economics</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Open Economices Review
ISSN
0923-7992
e-ISSN
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Volume of the periodical
27
Issue of the periodical within the volume
2
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
27
Pages from-to
359-385
UT code for WoS article
000372267700008
EID of the result in the Scopus database
2-s2.0-84959883534