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FIGURE 1
GENERALIZED IMPULSE RESPONSE OF COINTEGRATING VECTOR OF
BALANCE OF PAYMENTS TO A ONE STANDARD ERROR SHOCK IN
EQUATION FOR THE REAL EXCHANGE RATE
CANADA
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.006
0.004
0.002
0.000
B
-0.002
-0.004
-0.006
-0.008
-0.010
0
5
10
15
20
25
30
35
40
45
5050
Horizon
FRANCE
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.002
0.000
-0.002
B
-0.004
-0.006
-0.008
0
5
10
15
20
25
30
35
40
45
5050
Horizon
GERMANY
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.009
0.007
B
0.005
0.003
0.001
0
5
10
15
20
25
30
35
40
45
5050
Horizon
ITALY
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.000
-0.005
-0.010
B
-0.015
-0.020
-0.025
0
5
10
15
20
25
30
Horizon
20
35
40
45
5050
JAPAN
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.03
0.02
0.01
0.00
B
-0.01
-0.02
-0.03
-0.04
0
5
10
15
20
25
30
35
40
45
5050
Horizon
NETHERLANDS
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.004
0.002
0.000
B
-0.002
-0.004
-0.006
-0.008
0
5
10
15
20
25
30
35
40
45
5050
Horizon
UNITED KINGDOM
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.018
0.016
0.014
B
0.012
0.010
0.008
0
5
10
15
20
25
30
35
40
45
5050
Horizon
UNITED STATES OF AMERICA
Generalized Impulse Response(s) to one S.E. shock in the equation for E
0.005
0.000
-0.005
-0.010
B
-0.015
-0.020
-0.025
-0.030
0
5
10
15
20
25
30
Horizon
21
35
40
45
5050