상세검색
최근 검색어 전체 삭제
다국어입력
즐겨찾기0
157545.jpg
KCI등재 학술저널

Contribution of institutional shocks to Tunisian macroeconomic fluctuations: Structural VAR approach

Purpose: The objective of this paper is to identify and assess the contribution of budgetary, monetary and institutional shocks affecting the Tunisian economy over the period 1976-2003. The methodology used is vector autoregressive models and structural recent techniques for the analysis of time series related. The empirical results show a significant relationship between the supply shock and institutions on the one hand, and between institutional shocks and economic activity on the other hand. Research Design, Data and Methodology: As part of this section we will try to identify and assess the contribution of various shocks to macroeconomic variables fluctuations for the Tunisian economy. The study period is: 1976-2003 and observations are annual. Results: The real business cycle theory argues that fluctuations in aggregate economic activity are the result of the interaction of the only real factors namely agents preferences, technological opportunities, factor endowments and possibly certain institutional constraints. Conclusions: The lowest contribution to the variability of these rights is the monetary shock. As for civil liberties , the largest share of their variability is the shock relating to the political rights during the first four periods.

Abstract

1. Introduction

2. Structure and Identification of VAR

3. Empirical results and interpretations

4. Conclusion

References

로딩중