01786cas a2200241 a 4500 AALejournalIMF007201 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455262434 1018-5941 BD-DhAAL BD-DhAAL Sun, Yan. From West to East : Estimating External Spillovers to Australia and New Zealand / Yan Sun. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the size and source of external spillovers to Australia and New Zealand based on a structural vector autoregression (VAR) approach. It finds that during the last decade shocks from emerging Asia have become more important than those from the United States in affecting Australia's business cycle. A 1 percent shock to emerging Asia's growth is found to shift Australian growth by about 1/3 percent. Furthermore, there is evidence that commodity prices dominate the transmission of shocks from emerging Asia to Australia. The influence of emerging Asia on New Zealand is found to come indirectly through Australia, with Australian shocks transmitting almost "one-on-one" to New Zealand, largely through financial factors. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2011/120 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/120/001.2011.issue-120-en.xml IMF e-Library