02038cas a2200265 a 4500 AALejournalIMF013898 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484345474 1018-5941 BD-DhAAL BD-DhAAL Sun, Yan. Cross-Country Linkages in Europe : A Global VAR Analysis / Yan Sun, Frigyes Heinz, Giang Ho. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (74 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 uses the Global VAR (GVAR) model proposed by Pesaran and others (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, et cetera), and the Central, Eastern and Southeastern European (CESEE) countries. An innovative feature of the paper is the use of combined trade and financial weights (based on BIS reporting banks' external position data) to capture the very close trade and financial ties of the CESEE countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of economic influences, there are also interesting subregional linkages, e.g. between the Nordic and the Baltic countries, and a small but notable impact of CESEE countries on the rest of the Europe. Mode of access: Internet Heinz, Frigyes. Ho, Giang. IMF Working Papers; Working Paper ; No. 2013/194 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/194/001.2013.issue-194-en.xml IMF e-Library