In this paper we examine the large shocks due to major economic or financial events that affected U.S. macroeconomic time series on the period 1860–1988, using outlier methodology. We show that these shocks can have temporary or permanent effects on the series and that most of them can be explained by the Great Depression, World War II and recessions as well as by monetary policy for the intere...

In response to the deficiencies in financial regulation revealed by the global financial crisis, the Basel Committee on Banking Supervision (BCBS) is proposing to introduce a new capital regulatory standard to improve the banks' ability to absorb shocks arising from financial and economic stress. The regulatory capital requirements in the third of Basel Accords is conceptually similar to the mi...

We decompose by origin the sources of the variation in real aggregate output and aggregate price level in the Czech Republic, Hungary and Poland. We find that a sizable fraction of the variation is attributable to external shocks, especially so for aggregate price level. We show that euroarea interest rate shocks can account for a significant fraction of the external spillover effects. We concl...

study of price trend in iran, showed that general level of prices is rising continually during time. an inflation situation has effect on most economic variables. therefore investigation of effective factors and variables on inflation is important. exchange rate and gap in product are factors which affect inflation. in this paper the impact of exchange rate shocks and gap on inflation in iran’s...