The impact of economic and monetary shocks on the economic growth of the countries of the European Monetary Union for the period (1995-2014)
Keywords:Shock, Inflation, Unemployment, Interest Rate, Debt
The study aimed to measure the impact of the internal monetary and financial shocks in real GDP monetary EU growth rate during the period 1995-2014 in the short and long term, has been using functions pulse Impulse Response Functions (IRFs) response and the components of variance Decompositions analysis (VDCs) estimated of self-regression model for distributed slow (ARDL), which depends on the estimation errors unrestricted correction model (UECM) The study found that the most influential inflation rate in the European GDP, followed by all of the budget deficit and the debt ratio to GDP.
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