International Transmissions to Australia: The Roles of the US and Euro Area

Mardi Dungey and Denise Osborne
Additional contact information
Denise Osborne: School of Economics and Finance, University of Tasmania, http://www.utas.edu.au/economics-finance/
Authors registered in the RePEc Author Service: Mala Raghavan ()

No 17208, Working Papers from University of Tasmania, Tasmanian School of Business and Economics

Abstract: This paper examines the influences of the two largest developed economies, namely the US and the Euro area, on Australia as an exemplar of a small open economy. To do so, we specify and estimate a structural VAR with bilateral linkages between the two large economies, and allow shocks originating there to affect the Australian economy. More specifically, we show the role of foreign demand shocks, the differential effects of US or European sourced inflation and interest rate shocks on the Australian economy, and the relative unimportance of these foreign shocks to variations in the value of the Australian currency

Keywords: VAR; open economy; Australia (search for similar items in EconPapers)
JEL-codes: C32 C51 F41 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2013-10-16, Revised 2013-10-16
New Economics Papers: this item is included in nep-mon and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published by the University of Tasmania. Discussion paper 2013-10

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Journal Article: International Transmissions to Australia: The Roles of the USA and Euro Area (2014)
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