Rzigui, Lotfi (2005): External shocks and economic fluctuations: evidence from Tunisia.
Download (245Kb) | Preview
In this paper, we investigate the role of openness and external shock transmission affecting Tunisian economy. The paper proposes a new econometric methodology of fluctuations analysis in the objective to evaluate the effect of external shock based on trade on the dynamics of the GDP. The estimated common trend model reveals the role of external shock as well as technological shock in variation of economic activity. Our results are added to criticisms addressed to RBC model of first generation and show the role of external shock, ignored a long time in the business cycle literature.
|Item Type:||MPRA Paper|
|Institution:||URDEE FSEG Sfax|
|Original Title:||External shocks and economic fluctuations: evidence from Tunisia|
|Keywords:||External shocks; technological shocks; common trend representation; variances decomposition|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics
C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models; Multiple Variables > C32 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
|Depositing User:||Lotfi RZIGUI|
|Date Deposited:||18. Nov 2006|
|Last Modified:||16. Feb 2013 05:13|
Ahmed. S, Ickes. B. W, Wang. P and Yoo. B. S (1993): "International Business Cycles", the American Economic Review, 83 (3), 335-359. Ambler. S, Cardia. E et Zimmermann. C (2004): "International Business Cycle: What are the Facts?", Journal of Monetary Economics, 51, 257-276. Backus. D, Kehoe. P and Kydland. F (1992): "International Real Business Cycles", Journal of Political Economy, 101, 745-775 Backus. D, Kehoe. P and Kydland. F (1994): "Dynamics of the Trade Balance and the Term of trade: The J-Curve", The American Economic Review, 84, 84-103. Benassy. J. P (1995): "Money and Wage Contracts in Optimising Model of the Business Cycle ", Journal of Monetary Economics, 35(2) , 303-315. Beveridge. S and Nelson. C. R (1981): "A New Approach to Decomposition of Economic Time Series into Permanent and Transitory Components with Particular Attention to Measurement of the Business Cycle", Journal of Monetary Economics, 7 (2), 151-173. Chari. V, Kehoe. P and McGrattan. E (2005): "A Critique of Structural VARs Using Real Business Cycle Theory" Working Paper 631, Federal Reserve Bank of Minneapolis. Coe. D and Helpman. E (1995): "International R&D Spillovers", European Economic Review, 39, 859-887. Collard. F (1999):"Spectral and persistence Properties of Cyclical Growth", Journal of Economic Dynamics and control, 23, 463-488. Cunat. A and Maffezzoli. M (2004): "Heckscher-Ohlin Business Cycles", Review of Economic Dynamics, 7, 555-585. Hairault. J. O (1999): "To a New Neoclassical Synthesis?", Revue d’Economie Politique, 109 (5), 613-670. Hairault. J. O (2002): "Labor-Market Search and International Business Cycles", Review of Economic Dynamics, 5, 535-558. Haouas. I and Yagoubi. M (2004): "Trade liberalization and Labor-Demand Elasticities: Empirical Evidence from Tunisia", IZA DP n° 1084. Johansen. S (1988): "Statistical Analysis of Cointegration Vectors ", Journal of Economic Dynamics and control, 12, 231-254. King. R. G, Plosser. C and Rebelo. S (1988): "Production, Growth, and Business Cycles: I. The Basic Neoclassical Model", Journal of Monetary Economics, 21, 195-232 King. R. G, Plosser. C. I, Stock. J. H and Watson. M. W (1991): "Stochastic Trends and Economic Fluctuations", the American Economic Review, 81 (4), 819-840 Kydland. F. E and Prescott. E (1982): "Time to Build and Aggregate Fluctuations", Econometrica, 50 (6), 1345-1370. Long. J and Plosser. C (1983): "Real Business Cycle", Journal of Political Economy, 91 (1), 39-69. Nelson. C and Plosser. C (1982): "Trend and Random Walks in Macroeconomic Time Series: Some Evidence and Implications", Journal of Monetary Economics, 10 (1), 139-169. Sims. C. A (1980): "Macroeconomics and Reality", Econometrica, 48, 1-48. Warne. A (1993): "A Common Trend Model: identification, Estimation and Inference", Seminar Paper N° 555, Institute for International Economic Studies, Stockholm University