Table 5 Correlation matrix for structural shocks
From: The relevance of domestic and foreign factors in driving Ghana’s business cycle
\(\varepsilon _{t}^{z}\) | \(\varepsilon _{t}^{\tau _{x}}\) | \(\varepsilon _{t}^{\tau _{l}}\) | \(\varepsilon _{t}^{g}\) | |
|---|---|---|---|---|
\(\varepsilon _{t}^{z}\) | 1 | |||
\(\varepsilon _{t}^{\tau _{x}}\) | \(-\,\)0.0184 | 1 | ||
\(\varepsilon _{t}^{\tau _{l}}\) | \(-\,\)0.1654 | 0.4976 | 1 | |
\(\varepsilon _{t}^{g}\) | 0.5009 | 0.3649 | 0.2119 | 1 |