Pregled bibliografske jedinice broj: 586006
IMPACT OF MACROECONOMIC SHOCKS ON REAL OUTPUT FLUCTUATIONS IN CROATIA
IMPACT OF MACROECONOMIC SHOCKS ON REAL OUTPUT FLUCTUATIONS IN CROATIA // Proceedings of the 6th International Conference “An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future” / Galetić, Lovorka ; Šimurina, Jurica (ur.).
Zagreb: Faculty od Economics & Business Zagreb, 2012. str. 62-71 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
CROSBI ID: 586006 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
IMPACT OF MACROECONOMIC SHOCKS ON REAL OUTPUT FLUCTUATIONS IN CROATIA
Autori
Erjavec, Nataša ; Cota, Boris ; Jakšić, Saša
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
Proceedings of the 6th International Conference “An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future”
/ Galetić, Lovorka ; Šimurina, Jurica - Zagreb : Faculty od Economics & Business Zagreb, 2012, 62-71
ISBN
978-953-6025-57-2
Skup
An Enterprise Odyssey: Corporate governance and public policy - path to sustainable development
Mjesto i datum
Šibenik, Hrvatska, 13.06.2012. - 16.06.2012
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
real output; structural vector autoregression; variance decomposition; impulse response function; macroeconomic shocks
Sažetak
The paper investigates the sources of real output variability in Croatia by assessing the impact of macroeconomic structural shocks on fluctuations in real output. The analysis is based on a structural vector autoregressive model (SVAR) where structural shocks (demand, supply and nominal) are identified using Blanchard-Quah long run restriction technique. The findings of the empirical analysis point out the dominant role of supply shocks in explaining real output fluctuations. In the same time the results reveal negligible effects of nominal and demand shocks on the variability of real output. To get a better insight in the dynamics of real output in the aftermath of the structural shocks we also analyse the impulse response functions. The results show that a positive supply shock leads to a permanent increase in real output. A nominal shock decreases the real output marginally although the effect is only temporary and fades out quickly. Surprisingly, the effect of a demand shock is insignificant both in the short run and in the long run.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
Napomena
Indexing/abstracting: EconLit, ProQuest, EBSCO
POVEZANOST RADA
Projekti:
067-0671447-2570 - Financijska stabilnost, makroekonomska politika i aktivnost financijskih tržišta (Cota, Boris, MZOS ) ( CroRIS)
Ustanove:
Ekonomski fakultet, Zagreb
