dc.contributor.author | Furlanetto, Francesco | |
dc.contributor.author | Ravazzolo, Francesco | |
dc.contributor.author | Sarferaz, Samad | |
dc.date.accessioned | 2018-04-25T12:56:31Z | |
dc.date.available | 2018-04-25T12:56:31Z | |
dc.date.issued | 2014 | |
dc.identifier.isbn | 978-82-7553-817-6 | |
dc.identifier.issn | 1502-8143 | |
dc.identifier.uri | http://hdl.handle.net/11250/2495976 | |
dc.description.abstract | We estimate demand, supply, monetary, investment and financial shocks in a VAR identified with a minimum set of sign restrictions on US data. We find that financial shocks are major drivers of fluctuations in output, stock prices and investment but have a limited effect on inflation. In a second step we disentangle shocks originating in the housing sector, shocks originating in credit markets and uncertainty shocks. In the extended set-up financial shocks are even more important and a leading role is played by housing shocks that have large and persistent effects on output. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Norges Bank | nb_NO |
dc.relation.ispartofseries | Working Papers;9/2014 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.subject | JEL: C11 | nb_NO |
dc.subject | JEL: C32 | nb_NO |
dc.subject | JEL: E32 | nb_NO |
dc.subject | VAR | nb_NO |
dc.subject | sign restrictions | nb_NO |
dc.subject | financial shocks | nb_NO |
dc.subject | external finance premium | nb_NO |
dc.subject | housing | nb_NO |
dc.subject | uncertainty | nb_NO |
dc.title | Identification of Financial Factors in Economic Fluctuations | nb_NO |
dc.type | Working paper | nb_NO |
dc.description.version | publishedVersion | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | nb_NO |
dc.source.pagenumber | 55 | nb_NO |