• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>The North American journal of economics and finance >The spillover effects of US economic policy uncertainty on the global economy: A global VAR approach
【24h】

The spillover effects of US economic policy uncertainty on the global economy: A global VAR approach

机译：美国经济政策不确定性对全球经济的溢出效应：全球var方法

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Uncertainty in general and, more specifically, policy uncertainty have increased substantially after the 2007-2008 global financial crisis. Much of policy uncertainty has stemmed from the US. In this paper, we examine how US policy uncertainty shock spills over to the rest of the world in a global VAR (GVAR) framework. We find that US policy uncertainty shocks are significant in driving the business cycle fluctuations of the world economy. However, the spillovers are heterogeneous across countries, which are determined by the different types of US policy uncertainty (e.g., monetary policy uncertainty versus fiscal policy uncertainty) and the receiving country's characteristics (e.g., level of development, trade and financial openness, and quality of institutions). The empirical results offer crucial policy implications for both advanced and developing economies. Improving trade and financial openness and institutional quality can help them to mitigate their vulnerability to US policy uncertainty shock.
机译：在2007 - 2008年全球金融危机之后，普遍的不确定性和更具体地说，政策不确定性大幅增加。政策不确定性的大部分都源于美国。在本文中，我们在全球var（GVAR）框架中，了解美国政策的不确定性震荡溢出到世界其他地方。我们发现美国政策不确定性冲击在推动世界经济的商业周期波动方面是重要的。然而，溢出渗透转化症是异构的，这些国家由不同类型的美国政策不确定性（例如，货币政策不确定性与财政政策不确定性）和接收国家的特征（例如，发展水平，贸易和金融开放，质量机构）。经验结果为先进和发展中经济体提供了至关重要的政策影响。提高贸易和金融开放和机构素质可以帮助他们减轻对我们对美国政策不确定性震荡的脆弱性。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号