Working Papers, Konjunkturinstitutet - National Institute of Economic Research
Permanent Shocks and Spillovers: A Sectoral Approach Using a Structural VAR
Abstract: In an empirical two-sector model, it is investigated if
permanent shocks originating from one sector have an effect on production
in the other sector. The VAR contains three variables: employment in the
private sector, and value added in industry and in the rest of the private
sector. I found that shocks originating from one sector have no effect on
production in the other sector, neither in the short, nor in the long run.
The only common source of fluctuations in sectoral production is shocks to
the labor trend.
21 pages, September 1, 1998
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