Demand and Supply Shocks in the Caribbean Economies: Implications for Monetary Union
Abstract This paper uses the method of structural vector autoregressions to decompose movements of real output and prices into demand and supply innovations for four Caribbean economies: Barbados, Jamaica, Trinidad and Tobago, and Guyana. The aim of the analysis is to assess if these economies could feasibly form part of a Caribbean monetary union. Correlations between the demand and supply innovations are, however, typically low, indicating that monetary union may lead to greater stabilisation problems for these economies. Copyright 2010 Blackwell Publishing Ltd.
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Volume (Year): 33 (2010)
Issue (Month): 10 (October)
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