Search results for " shocks"

MHD modelling of plasma flowing in coronal magnetic channels

Effect of long-term salinity increase on nitritation and denitritation kinetics in activated sludge and granular sludge reactors

2017

The aim of this work was to investigate the effects of moderate and drastic long-termincrease of salinity.Particularly, the study was aimed at assessing the shock effecton nitritationand denitritation kineticsof halophilic biomass inboth forms:flocculent activated sludge and granular sludge.

Hydrodynamic simulations of the shock-cloud interaction in the Vela supernova remnant

2005

Monetary policy and exchange rate dynamics in the Spanish economy

1999

As the Spanish economy gets more integrated in international markets, the real exchange rate becomes a key determinant of the monetary transmission. In this paper we trace out the dynamic response of prices, output and the exchange rate following a monetary policy shock. We estimate a structural VAR model whose identification scheme is based on the long run properties common to a large class of models. The results suggest that a small model with efficient asset markets plus nominal inertia and long run monetary neutrality, captures the essential features of the monetary transmission mechanism in Spain. The interest rate shock is well identified and the exchange rate overshoots its long run …

BEMOD: A DSGE Model for the Spanish Economy and the Rest of the Euro Area

2006

In this paper we present the theoretical foundations and the simulation results obtained with a new dynamic general equilibrium model developed at the Banco de España for the Spanish economy and the rest of Euro area. The model is designed to help in simulating the effect of alternative shocks on the main aggregate variables. The main contributions of this work from a theoretical perspective are the modelling of a monetary union composed of two regions, the inclusion of housing as a durable good with its own sector of production and the degree and detail of the disaggregation considered for each country in the model, which replicates the Quarterly National Accounts. On the empirical side, t…

Does corn market uncertainty impact the US ethanol prices?

2018

The growing interest in biofuel as a green energy source has intensified the linkages between corn and ethanol markets, especially in the United States that represents the largest producing and exporting country for ethanol in the world. In this study, we examine the effect of corn market uncertainty on the price changes of US ethanol applying a set of GARCH-jump models. We find that the US ethanol price changes react positively to the corn market volatility shocks after controlling for the effect of oil price uncertainty. In addition, we document that the impact of corn price volatility on the US ethanol prices appears to be asymmetric. Specifically, only the positive corn market volatilit…