Series: IMF Working Papers
Author(s): Paul Cashin , Kamiar Mohaddes , Mehdi Raissi , and Maziar Raissi
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 23 October 2012
Keywords: Global VAR (GVAR), global macroeconomic modeling, impulse responses, international business cycle, oil-demand and oil-supply shocks, oil exporters, exporters, oil prices, exporting countries, Time-Series Models
We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2-2011Q2, to discriminate between supply-driven and demand-dr...