Search Results - subject:"Functional Form"

Development Accounting and the Rise of TFP

Cherif, Reda; Arezki, Rabah - International Monetary Fund (IMF) - 2010

The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the...

Persistent link: https://www.econbiz.de/10008533234

Democracy and Reforms; Evidence From a New Dataset

Spilimbergo, Antonio; Giuliano, Paola; Mishra, Prachi - International Monetary Fund (IMF) - 2010

Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product...

Persistent link: https://www.econbiz.de/10008646419

A New Framework to Estimate the Risk-Neutral Probability Density Functions Embedded in Options Prices

Cheng, Kevin C. - International Monetary Fund (IMF) - 2010

Building on the widely-used double-lognormal approach by Bahra (1997), this paper presents a multi-lognormal approach with restrictions to extract risk-neutral probability density functions (RNPs) for various asset classes. The contributions are twofold: first, on the technical side, the paper...

Persistent link: https://www.econbiz.de/10008646431

Investment; Specific Technology Shocks and International Business Cycles: An Empirical Assessment

International Monetary Fund (IMF); International … - 2010

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement",...

Persistent link: https://www.econbiz.de/10008671290

Financial Frictions, Investment, and Institutions

Yafeh, Yishay; Ueda, Kenichi; Claessens, Stijn - International Monetary Fund (IMF) - 2010

Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...

Persistent link: https://www.econbiz.de/10008680276

A Perspectiveon Predicting Currency Crises

Flood, Robert P.; Yepez, Juan; Marion, Nancy P. - International Monetary Fund (IMF) - 2010

Currency crises are difficult to predict. It could be that we are choosing the wrong variables or using the wrong models or adopting measurement techniques not up to the task. We set up a Monte Carlo experiment designed to evaluate the measurement techniques. In our study, the methods are given...

Persistent link: https://www.econbiz.de/10008680277

Asset Securitization and Optimal Retention

Kiff, John; Kisser, Michael - International Monetary Fund (IMF) - 2010

This paper builds on recent research by Fender and Mitchell (2009) who show that if financial institutions securitize loans, retaining an interest in the equity tranche does not always induce the securitizer to diligently screen borrowers ex ante. We first determine the conditions under which...

Persistent link: https://www.econbiz.de/10008470381

Estimating residential water demand using the Stone-Geary functional form : the case of Sri Lanka

Dharmaratna, Dinusha; Harris, Edwyna - 2010

Persistent link: https://www.econbiz.de/10008660909

Environmental Kuznets Curves for carbon emissions: A critical survey

Aslanidis, Nektarios - 2009

literature. We discuss issues related to the functional form, heterogeneity, spurious regressions and spatial dependence to …

Persistent link: https://www.econbiz.de/10010279599

An Economic Approach to the Measurement of Productivity Growth Using Differences Instead of Ratios

Diewert, Erwin; Mizobuchi, Hideyuki - Vancouver School of Economics - 2009

introduces a new flexible functional form for a GDP function that is based on the normalized quadratic functional form pioneered … introduces a new flexible functional form for a GDP function that is based on the normalized quadratic functional form pioneered … normalized quadratic income function. Using this functional form to represent technology of the market sector in each period …

Persistent link: https://www.econbiz.de/10004971014