English, Article edition: How Much of the Macroeconomic Variation in Eastern Europe is Attributable to External Shocks? Bartosz Mać kowiak

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  • article
Language
  • English

Edition details

Title
  • How Much of the Macroeconomic Variation in Eastern Europe is Attributable to External Shocks?
Author
  • Bartosz Ma&​cacute
  • kowiak
Physical Description
  • article
Notes
  • We decompose by origin the sources of the variation in real aggregate output and aggregate price level in the Czech Republic, Hungary and Poland. We find that a sizable fraction of the variation is attributable to external shocks, especially so for aggregate price level. We show that euroarea interest rate shocks can account for a significant fraction of the external spillover effects. We conclude that theoretical models of advanced transition economies and policy rules for these economies should feature a prominent role for external shocks. Comparative Economic Studies (2006) 48, 523–544. doi:10.1057/​palgrave.ces.8100143
  • RePEc:pal:compes:v:48:y:2006:i:3:p:523-544
Language
  • English
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