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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2014.4
- 수록면
- 87 - 96 (10page)
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초록· 키워드
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The recent 2008/2009 global financial crisis originating from the US seems to have generated recessions worldwide. This paper examines the international propagation of the US financial crisis to a small open economy, Korea, based on a block-recursive vector autoregression model. The results indicate that the US financial shock (crisis) has a contractionary effect on the Korean economy and has considerable influence on the Korean economy in terms of both variance and historical decomposition over the recent financial crisis period. This implies that the model of a realistic international business cycle needs to incorporate the financial transmission mechanism as well as the real one.
목차
1. INTRODUCTION
2. BLOCK-RECURSIVE VAR ANALYSIS
3. CONCLUSIONS
REFERENCES
참고문헌 (13)
참고문헌 신청
1. [학술지(정기간행물)] - Bernanke, B / 1996 / The Financial Accelerator and the Flight to Quality / The Review of Economics and Statistics 78 (1) : 1 ~ 15
2. [단행본] - Bernanke, B. / 1999 / Handbook of Macroeconomics / Elsevier : 1341 ~ 1393
3. [학술지(정기간행물)] - Canova, F. / 2005 / The Transmission of US Shocks to Latin America / Journal of Applied Econometrics 20 (2) : 229 ~ 251
4. [학술지(정기간행물)] - Gilchrist, S. / 2012 / Credit Spreads and Business Cycle Fluctuations / American Economic Review 102 (4) : 1692 ~ 1720
5. [학술지(정기간행물)] - Jermann, U / 2012 / Macroeconomic Effects of Financial Shocks / American Economic Review 102 (1) : 238 ~ 271
2. [단행본] - Bernanke, B. / 1999 / Handbook of Macroeconomics / Elsevier : 1341 ~ 1393
3. [학술지(정기간행물)] - Canova, F. / 2005 / The Transmission of US Shocks to Latin America / Journal of Applied Econometrics 20 (2) : 229 ~ 251
4. [학술지(정기간행물)] - Gilchrist, S. / 2012 / Credit Spreads and Business Cycle Fluctuations / American Economic Review 102 (4) : 1692 ~ 1720
5. [학술지(정기간행물)] - Jermann, U / 2012 / Macroeconomic Effects of Financial Shocks / American Economic Review 102 (1) : 238 ~ 271
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UCI(KEPA) : I410-ECN-0101-2015-300-001440219