This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

American Economic Journal: Macroeconomics: Vol. 6 No. 2 (April 2014)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter Subscription Information
(Institutional Administrator Access)

Explore:

AEJ: Macro - All Issues

AEJ: Macro Forthcoming Articles

The Effects of Global Shocks on Small Commodity-Exporting Economies: Lessons from Canada

Article Citation

Charnavoki, Valery, and Juan J. Dolado. 2014. "The Effects of Global Shocks on Small Commodity-Exporting Economies: Lessons from Canada." American Economic Journal: Macroeconomics, 6(2): 207-37.

DOI: 10.1257/mac.6.2.207

Abstract

We propose a structural dynamic factor model of a small commodity-exporting economy, using Canada as a representative case study. Combining large panel data sets of the global and do- mestic economies, sign restrictions are used to identify relevant demand and supply shocks that explain volatility in real commod- ity prices. We quantify their dynamic e ffects on a wide variety of Canadian macro variables. We are able to reproduce all the main stylized features at business-cycle frequencies documented in the literature on this type of economies. These include a Dutch disease eff ect which has proven hard to find in empirical studies.

Article Full-Text Access

Full-text Article

Additional Materials

Authors

Charnavoki, Valery (New Economic School, Moscow)
Dolado, Juan J. (U Carlos III de Madrid and European U Institute, Florence)

JEL Classifications

E32: Business Fluctuations; Cycles
F14: Empirical Studies of Trade
F32: Current Account Adjustment; Short-term Capital Movements
F43: Economic Growth of Open Economies
F44: International Business Cycles
Q02: Global Commodity Markets
Q33: Resource Booms

Comments

View Comments on This Article (0) | Login to post a comment


American Economic Journal: Macroeconomics


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

AEJ: Macro - All Issues

AEJ: Macro - Forthcoming Articles

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us