Macroeconomic Fluctuations in the Caribbean.

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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Sosa, Sebastian
Otros Autores: Cashin, Paul
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Natural disasters > Economic aspects.
Catastrophes naturelles > Aspect économique.
Economic history
Natural disasters > Economic aspects
Caribbean Area > Economic conditions.
Caraïbes (Région) > Conditions économiques.
Caribbean Area
Acceso en línea:Texto completo
Descripción
Sumario: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.
Descripción Física:1 online resource (29 pages)
ISBN:9781451917345
1451917341

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