IDEAS home Printed from https://ideas.repec.org/a/bla/manchs/v67y1999is1p49-65.html
   My bibliography  Save this article

Shock Hunting: The Relative Importance of Industry‐Specific, Region‐specific and Aggregate shocks in the OECD Countries

Author

Listed:
  • Michael Funke
  • Stephen Hall
  • Ralf Ruhwedel

Abstract

A common argument against monetary union is that it precludes stabilization of economies through monetary and exchange rate policy. We address this point by calculating the relative empirical importance of industry‐specific, country‐specific and aggregate disturbances using a comparable international data set comprising annual data from 1971 to 1993 for 19 OECD countries and 25 two‐digit industries. The evidence seems to suggest that the country‐specific shocks have declined over the last 20 years.

Suggested Citation

  • Michael Funke & Stephen Hall & Ralf Ruhwedel, 1999. "Shock Hunting: The Relative Importance of Industry‐Specific, Region‐specific and Aggregate shocks in the OECD Countries," Manchester School, University of Manchester, vol. 67(s1), pages 49-65.
    • Handle: RePEc:bla:manchs:v:67:y:1999:i:s1:p:49-65
    DOI: 10.1111/1467-9957.67.s1.3
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-9957.67.s1.3
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-9957.67.s1.3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wolfgang Franz, 1999. "Real and Monetary Challenges to Wage Policy in Germany at the Turn of the Millennium: Technical Progress, Globalization and European Monetary Union," CESifo Working Paper Series 200, CESifo.
    2. Siebert, Horst, 1998. "The Euro: A dozen do's and don't's," Kiel Discussion Papers 312, Kiel Institute for the World Economy (IfW Kiel).
    3. Juan Luís Ollero & Raul Ramos & Jordi Suriñach-Caralt, 2001. "Macroeconomic implications of EMU at the regional level," ERSA conference papers ersa01p146, European Regional Science Association.
    4. Philip Arestis & Malcolm Sawyer, 2001. "Will the Euro Bring Economic Crisis to Europe?," Palgrave Macmillan Books, in: Philip Arestis & Michelle Baddeley & John McCombie (ed.), What Global Economic Crisis?, chapter 5, pages 78-103, Palgrave Macmillan.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:manchs:v:67:y:1999:i:s1:p:49-65. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/semanuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.