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Spillovers to and from the Nordic Economies: A Macroeconometric Model Based Analysis
Author:
Mr. Francis Vitek
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https://orcid.org/0000-0001-8661-7519
Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 225
Language:
English
Publication Date:
05 Nov 2013
DOI:
https://doi.org/10.5089/9781475514667.001
ISBN:
9781475514667
ISSN:
1018-5941
Pages:
30
Keywords:
WP; economy; Nordic economy; output spillover; Spillover analysis; Trade linkages; Financial linkages; External risks; Policy coordination; output loss; spillover coefficient; risk premium shock; export exposure; source economy; Return on investment; Spillovers; Stock markets; Securities markets; Exports; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper analyzes the transmission of shocks and policies among and across the Nordic economies and the rest of the world. This spillover analysis is based on a pair of estimated structural macroeconometric models of the world economy, disaggregated into thirty five national economies. We find that the Nordic economies are heavily exposed to external macroeconomic and financial shocks, but have significant scope to mitigate their domestic macroeconomic impacts through coordinated policy responses, given their high degree of regional integration.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund