local and global shocks in austria. a var application

Watzdorf, Eike von and Wörgötter, Andreas (January 1990) local and global shocks in austria. a var application. Former Series > Forschungsberichte / Research Memoranda 262


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abstract: we assume that fluctuations in regional contributions to gdp have two sources: (1) local shocks due to region specific disturbances and (2) global shocks due to nationwide disturbances. the two unobservable shocks are identified in a recursive var model for each region and several indicators for their relative importance are estimated with austrian yearly data from 1961 to 1988. the estimated ratio of variances of global to total shocks varies from 27.7 percent (salzburg) to 67.9 percent (vorarlberg) .;

Item Type: IHS Series
Date Deposited: 26 Sep 2014 10:34
Last Modified: 01 Apr 2016 14:07
URI: https://irihs.ihs.ac.at/id/eprint/262

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