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Vietnam; Bayesian Estimation of Output Gap
Maliszewski, Wojciech - International Monetary Fund (IMF) - 2010
The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model …
Persistent link: https://www.econbiz.de/10008560446
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Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy
International Monetary Fund (IMF); International … - 2010
This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The paper uses these results to estimate a New Keynesian Phillips curve for Armenia,...
Persistent link: https://www.econbiz.de/10008671293
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Labour supply and incentives to work in Europe
Gómez Salvador, Ramón (contributor) - What explains the pattern of labour supply in Europe … - 2005
Labour Supply and Incentives to Work in Europe highlights recent developments in the labour supply in Europe and gives a detailed assessment of their link with economic policies and labour market institutions. Despite major changes in European labour supply during the past few decades, the...
Persistent link: https://www.econbiz.de/10011851054
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Monetary and Fiscal Rules in an Emerging Small Open Economy
Levine, Paul; Pearlman, Joseph; Batini, Nicoletta - International Monetary Fund (IMF) - 2009
features of emerging market economies. The model takes the form of two-blocs, a DSGE emerging small open economy interacting …
Persistent link: https://www.econbiz.de/10005825799
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DSGE Modeling At the Fund; Applications and Further Developments
Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007
Economy Model is a quarterly model that features a large assortment of nominal and real rigidities, which are necessary to …
Persistent link: https://www.econbiz.de/10005826064
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Monetary and Fiscal Policy Options for Dealing with External Shocks; Insights from the GIMF for Colombia
Flores, Enrique; Leigh, Daniel; Clements, Benedict J. - International Monetary Fund (IMF) - 2009
This paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and … responsive monetary policy, the economy is well poised to adjust to different external shocks. They also suggest that the …
Persistent link: https://www.econbiz.de/10005826520
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Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies
Debrun, Xavier - International Monetary Fund (IMF) - 2011
Despite growing interest among policymakers, there is no theory of independent fiscal institutions. The emerging literature on "fiscal councils" typically makes informal parallels with the theory of central bank independence, but a very simple formal example shows that such a shortcut is flawed....
Persistent link: https://www.econbiz.de/10009203526
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Central Banks Quasi-Fiscal Policies and Inflation
Park, Seok Gil - International Monetary Fund (IMF) - 2012
Although central banks have recently taken unconventional policy actions to try to shore up macroeconomic and financial stability, little theory is available to assess the consequences of such measures. This paper offers a theoretical model with which such policies can be analyzed. In...
Persistent link: https://www.econbiz.de/10009650632
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Sovereign Risk, Fiscal Policy, and Macroeconomic Stability
Kuester, Keith; Mueller, Gernot J.; Corsetti, Giancarlo; … - International Monetary Fund (IMF) - 2012
exacerbates indeterminacy problems: private-sector beliefs of a weakening economy may become self-fulfilling. In addition …
Persistent link: https://www.econbiz.de/10009650633
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - European Central Bank - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10005530784