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Output Gap Uncertainty and Real-Time Monetary Policy

Grigoli, Francesco; Herman, Alexander; Swiston, Andrew; … - International Monetary Fund (IMF) - 2015

Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetary policy of assessments of economic activity relative to capacity. We show that...

Persistent link: https://www.econbiz.de/10011163120

Nonfinancial Firms in Latin America; A Source of Vulnerability?

Gonzalez, Maria - International Monetary Fund (IMF) - 2012

We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized …

Persistent link: https://www.econbiz.de/10011242251

Macroeconomics of Migration in New Member States

Bems, Rudolfs; Schellekens, Philip - International Monetary Fund (IMF) - 2008

This paper examines the macroeconomic impact of migration on income convergence in the EU's New Member States (NMS). The paper focuses on cross-border mobility of labor and examines the implications for policymakers with the help of a general equilibrium model. It finds that cross-border labor...

Persistent link: https://www.econbiz.de/10005825900

Italy; Selected Issues

International Monetary Fund (IMF); International … - 2011

Based on the economic literature, various policy measures and institutions in the product and labor markets that increase growth and employment are studied. From a cross-country approach, this study finds a significant relationship between Vertical Fiscal Imbalances (VFIs) and fiscal performance...

Persistent link: https://www.econbiz.de/10011244125

Shocking Aspects of Canadian Labor Markets

Sutton, Bennett; Bayoumi, Tamim; Swiston, Andrew - International Monetary Fund (IMF) - 2006

We analyze the flexibility of the Canadian labor market across provinces in both an interand intra-national context using macroeconomic data on employment, unemployment, participation, and (for Canada) migration and real wages. We find that Canadian labor markets respond in a similar manner to...

Persistent link: https://www.econbiz.de/10005599750

Made in Mexico: Energy Reform and Manufacturing Growth

Alvarez, Jorge; Valencia, Fabian - International Monetary Fund (IMF) - 2015

This paper assesses the real effects of the energy reform in Mexico by looking at its impact on manufacturing output …

Persistent link: https://www.econbiz.de/10011242302

Income Mobility and Welfare

Krebs, Tom; Krishna, Pravin; Maloney, William - International Monetary Fund (IMF) - 2013

measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking … results. Much of measured income mobility is driven by measurement error or transitory income shocks and therefore (almost …

Persistent link: https://www.econbiz.de/10010790325

Public Investment as an Engine of Growth

Warner, Andrew M. - International Monetary Fund (IMF) - 2014

This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On...

Persistent link: https://www.econbiz.de/10010959467

Emigration and Wages in Source Countries; Evidence From Mexico

Mishra, Prachi - International Monetary Fund (IMF) - 2006

This paper empirically examines the effect on wages in Mexico of Mexican emigration to the United States, using data … and positive effect on Mexican wages. There is also evidence for increasing wage inequality in Mexico due to emigration …. Simple welfare calculations based on a labor demand-supply framework suggest that the aggregate welfare loss to Mexico due to …

Persistent link: https://www.econbiz.de/10005605072

Mexico; Arrangement Under the Flexible Credit Line and Cancellation of the Current Arrangementâ€”Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion...

International Monetary Fund (IMF); International … - 2012

The report discusses the important role of the Flexible Credit Line (FCL) in helping Mexico to survive in the fragile … global economic environment. The FCLâ€™s contribution in maintaining an orderly financial market in Mexico is noteworthy. IMF … staff reaffirms their commitment toward Mexico in taking the necessary actions to manage unforeseen risks. According to the …

Persistent link: https://www.econbiz.de/10011242587