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International Transmission Of U.S. Real, Nominal, And Financial Shocks, Bamadev Paudel
International Transmission Of U.S. Real, Nominal, And Financial Shocks, Bamadev Paudel
Wayne State University Dissertations
This dissertation identifies real, nominal, and financial shocks in the U.S. and observes their effects on U.S. as well as G�macroeconomic variables. First, the real and nominal shocks in the U.S. are identified by using long-run implications of an open economy stochastic macroeconomic model, and the effects of these shocks are observed in real GDP, real effective exchange rates, and the prices for the U.S. relative to each of six other G�7 countries. While Blanchard and Quah's long-run identification strategy is used to identify the shocks, short-run implication of the model are also exploited, as a prima facie evidence, by …