Estimating welfare effects from supply shocks with dynamic factor demand models
نویسندگان
چکیده
منابع مشابه
Estimating Welfare Effects from Supply Shocks with Dynamic Factor Demand Models
This paper examines how the demand for commodities adjusts to supply shocks, and shows the importance of capturing this adjustment process when calculating welfare effects. A dynamic capital adjustment model for U.S. softwood stumpage markets is developed, and compared to a traditional lagged adjustment model. The results show that timber markets in the U.S. adjusted to the large supply shock o...
متن کاملInternational Portfolios with Demand and Supply Shocks
In the past twenty years, both gross and net capital flows have increased to unprecedented levels (see Lane and Milesi-Ferretti b, 2006). In industrialized countries, this has been the case for both stocks and bonds. One consequence of this period of financial integration is that gross financial positions now exceed 100% of GDP in several industrialized countries. This also means that differenc...
متن کاملthe impacts of supply and demand shocks on agriculture growth
abstract in the recent decades, the iranian economy has been highly depended on oil revenues. considering the fact that a great part of non-oil exports are agricultures product, studying factors influencing growth of agricultural sector plays an important role in the iran's economy. supply domestic shocks and domestic demand pressure along with deviation of exchange rates from its equilibrium, ...
متن کاملThe Dynamic Effects of Aggregate Demand and Supply Disturbances
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your perso...
متن کاملThe Dynamic Effects of Aggregate Demand and Supply Disturbance
We decompose the behavior of GNP and unemployment into the dynamic effects of two types of shocks: shocks that have a permanent effect on output and shocks that do not. We interpret the £rst as supply shocks, the second as demand shocks. We £nd that demand disturbances have a bump shaped effect on both output and unemployment; the effect peaks after a year and vanishes after two to three years....
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Forest Policy and Economics
سال: 2016
ISSN: 1389-9341
DOI: 10.1016/j.forpol.2016.08.003