International Spill-Overs of Uncertainty Shocks: Evidence from a FAVAR

Knowledge spill-overs, innovation and regional development

Spatial Spill-overs and Households Involvement in the Non-Farm Sector: Evidence from Rural Rwanda

This paper studies the effects of external economies of scale on households’ involvement in the non-farm sector. The focus of the paper is on the type of knowledge spill-overs that occur at the level of individuals; these relate to learning processes and non-market interactions. Nationally representative data on 8,100 households surveyed in 2006 and 2009 are used and unobserved heterogeneity an...

The macroeconomic effects of international uncertainty shocks

We propose a large-scale Bayesian VAR model with factor stochastic volatility to investigate the macroeconomic consequences of international uncertainty shocks on the G7 countries. The factor structure enables us to identify an international uncertainty shock by assuming that it is the factor most correlated with forecast errors related to equity markets and permits fast sampling of the model. ...

Business cycles in Iran: Evidence from asymmetry and correlated shocks

In this Paper, business cycle asymmetry in Iran has been investigated using a nonlinear unobserved component model. In this regard, according to Kim and Nelsonchr('39')s (1999) interpretation of Friedman plucking model (1993), asymmetric transitory component has been modeled and simultaneously the possibility of a correlation between transitory and permanent shocks has also been considered. The...

How Do Agricultural Subsectors Respond to Productivity Shocks? Evidence from a Bayesian DSGE Model in Iran

Understanding the dynamics of productivity shocks is instrumental if we are to identify the sources of economic growth. This paper, investigates dynamic effects of positives productivity shocks to agricultural subsectors during the period from 1991-2015, by disaggregating agricultural sector in Iran into four key subsectors (crops, livestock, fishing and forestry) through an estimated DSGE mode...