From West to East: Estimating External Spillovers to Australia and New Zealand
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Bibliographic Details
Main Author: Sun, Yan (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2011
Series:IMF Working Papers Working Paper No. 11/120
Links:http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
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http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
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http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
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http://elibrary.imf.org/view/IMF001/11850-9781455262434/11850-9781455262434/11850-9781455262434.xml
Abstract:This paper examines the size and source of external spillovers to Australia and New Zealand based on a structural vector autoregression (VAR) approach. It finds that during the last decade shocks from emerging Asia have become more important than those from the United States in affecting Australia's business cycle. A 1 percent shock to emerging Asia's growth is found to shift Australian growth by about 1/3 percent. Furthermore, there is evidence that commodity prices dominate the transmission of shocks from emerging Asia to Australia. The influence of emerging Asia on New Zealand is found to come indirectly through Australia, with Australian shocks transmitting almost ""one-on-one"" to New Zealand, largely through financial factors
Physical Description:1 Online-Ressource (21 p)
ISBN:1455262439
9781455262434