The dynamic interrelations between unequal neighbors: an Austro-German case study
AbstractThis article investigates the effects and the transmission of shocks between asymmetric neighboring countries. In particular, we investigate Austria and Germany which are highly integrated due to their common language and common membership of the European Monetary Union. Generalized impulse response functions reveal large and significant effects of shocks to the German economy on Austria. By contrast, the effects of shocks to the Austrian economy on Germany are barely significant and if they are, their magnitude is small. Furthermore, we can show that multiplier effects exist in Germany but not in Austria and we identify hysteretic properties in Austrian unemployment. Copyright Springer-Verlag 2012
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 43 (2012)
Issue (Month): 2 (October)
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Other versions of this item:
- Klaus Prettner & Robert M. Kunst, 2009. "The Dynamic Interrelations between Unequal Neighbors: An Austro-German Case Study," Vienna Economics Papers 0913, University of Vienna, Department of Economics.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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