Spillovers to and from the Nordic Economies: A Macroeconometric Model Based Analysis

November 5, 2013

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper analyzes the transmission of shocks and policies among and across the Nordic economies and the rest of the world. This spillover analysis is based on a pair of estimated structural macroeconometric models of the world economy, disaggregated into thirty five national economies. We find that the Nordic economies are heavily exposed to external macroeconomic and financial shocks, but have significant scope to mitigate their domestic macroeconomic impacts through coordinated policy responses, given their high degree of regional integration.

Subject: Exports, Financial markets, Financial sector policy and analysis, International trade, National accounts, Return on investment, Securities markets, Spillovers, Stock markets

Keywords: economy, export exposure, Exports, External risks, Financial linkages, Global, Nordic economy, output loss, output spillover, Policy coordination, Return on investment, risk premium shock, Securities markets, source economy, Spillover analysis, spillover coefficient, Spillovers, Stock markets, Trade linkages, WP

Pages:
30
Volume:
2013
DOI:
https://doi.org/10.5089/9781475514667.001
Issue:
225
Series:
Working Paper No. 2013/225
Stock No:
WPIEA2013225
ISBN:
9781475514667
ISSN:
1018-5941

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