Systemic Risk, Aggregate Demand, And Commodity Prices by Gómez-Pineda, Javier

Full Title: Systemic Risk, Aggregate Demand, And Commodity Prices
Author/Editor(s): Javier Gómez-Pineda; Dominique M Guillaume; Kadir Tanyeri
ISBN: 1513552546, 9781513552545
Publisher: International Monetary Fund
Published Place: Washington, D.C.
Published/Copyright Year: 2015
Language: English
Series: IMF Working Papers: Working Paper No. 15/165
IMF ELibrary
Number of pages: 1 online resource (52 pages)
Categories:
Capital Flows
Central Banks And Their Policies
Commodity Prices
Demand
Econometric Models
External Shocks
Financial Linkages
Forecasting And Simulation
Foreign Exchange
Global Imbalances Commodity Prices
International Finance
Open Economy Macroeconomics
Systemic Risk


Content:
The paper presents a global model with systemic and country risks, as well as commodity prices.We show that systemic risk shocks have an important impact on world economic activity, with the busts in world output gap corresponding to unobserved systemic risk associated with major financial events. In addition, systemic risk shocks are shown to be important drivers of output gaps while country risk premium shocks can have important effects on the trade balance. Commodity prices, in particular the price of oil, are shown to be demand driven. The model performs well at one- and four-quarter horizons compared to a survey of analysts' forecasts. In addition, systemic risk shocks explain a large share of the forecast variance for the world output gap, country output gaps, the price of oil, and country risk premiums. The importance of systemic risk shocks lends support for financial surveillance with a systemic focus.

Electronic Resources:
http://hdl.library.upenn.edu/1017.12/1522403

ISBNPlus ID: UPE.BD102.22133-11-2209173
Form: Nonfiction
Released Date: 20151203

Download BiBTeX of this book (.bib)
@book{isbnplus9781513552545,
 title={Systemic Risk, Aggregate Demand, And Commodity Prices},
 author={Javier Gómez-Pineda and Dominique M Guillaume and Kadir Tanyeri},
 isbn={9781513552545},
 series={IMF Working Papers: Working Paper No. 15/165},
 url={http://isbnplus.org/9781513552545},
 year={2015},
 publisher={International Monetary Fund},
 address={Washington, D.C.}
}
Download 9781513552545.bib
Download EndNote of this book (.enw)
%0 Book
%T Systemic Risk, Aggregate Demand, And Commodity Prices
%A Javier Gómez-Pineda
%A Dominique M Guillaume
%A Kadir Tanyeri
%@ 9781513552545
%U http://isbnplus.org/9781513552545
%D 2015
%I International Monetary Fund
%C Washington, D.C.
Download 9781513552545.enw
Download RefMan of this book (.ris)
TY  - BOOK
T1  - Systemic Risk, Aggregate Demand, And Commodity Prices
A1  - Javier Gómez-Pineda
A1  - Dominique M Guillaume
A1  - Kadir Tanyeri
SN  - 9781513552545
T3  - IMF Working Papers: Working Paper No. 15/165
UR  - http://isbnplus.org/9781513552545
Y1  - 2015
PB  - International Monetary Fund
CY  - Washington, D.C.
ER  - 
Download 9781513552545.ris
Download the MARC records (.mrc)

No guarantees for the accuracy of information are made.

x

APA Style:
Gómez-Pineda, J., Guillaume, D.M. & Tanyeri, K. (2015). Systemic Risk, Aggregate Demand, And Commodity Prices. Washington, D.C.: International Monetary Fund.

MLA Style:
Gómez-Pineda, Javier, Dominique M Guillaume, and Kadir Tanyeri. Systemic Risk, Aggregate Demand, And Commodity Prices. Washington, D.C.: International Monetary Fund, 2015. Print.

Chicago Style:
Gómez-Pineda, Javier, Dominique M Guillaume, and Kadir Tanyeri. Systemic Risk, Aggregate Demand, And Commodity Prices. Washington, D.C.: International Monetary Fund, 2015.