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Foreign Reserve Adequacy in sub-Saharan Africa
Fund, International Monetary - 2008
reserves by comparing the cost of holding reserves with their benefits as an insurance against a shock. We find that the …
Persistent link: https://www.econbiz.de/10012677596
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International Reserves and Self-Insurance against External Shocks
Barnichon, Régis - 2008
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper develops an analytical...
Persistent link: https://www.econbiz.de/10012677607
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Macroeconomic Responses to Terms-of-Trade Shocks
Berkmen, Pelin - 2009
This paper presents a version of the global integrated monetary fiscal (GIMF) model adapted and calibrated to the Argentine economy. The model replicates the effect of the strong improvement in Argentina's terms of trade stemming from higher world commodity prices as well as other key economic...
Persistent link: https://www.econbiz.de/10012677786
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Investment-Led Growth in China; Global Spillovers
Ahuja, Ashvin; Nabar, Malhar - International Monetary Fund (IMF) - 2012
Over the past decade, China’s growth model has become more reliant on investment and its footprint in global imports … has widened substantially. Several economies within China’s supply chain are increasingly exposed to its investment …-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10011242248
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ECCU Business Cycles
Sun, Yan - 2009
With a fixed peg to the U.S. dollar for more than three decades, the tourism-dependent Eastern Caribbean Currency Union (ECCU) countries share a close economic relationship with the U.S. This paper analyzes the impact of the United States on ECCU business cycles and identifies possible...
Persistent link: https://www.econbiz.de/10012677751
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The Benefits of International Policy Coordination Revisited
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas; Muir, Dirk - International Monetary Fund (IMF) - 2013
This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in that, unlike monetary policy, they have long-run effects on the level of GDP that need to be...
Persistent link: https://www.econbiz.de/10011142005
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Policy Analysis and Forecasting in the World Economy; A Panel Unobserved Components Approach
Vitek, Francis - International Monetary Fund (IMF) - 2012
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...
Persistent link: https://www.econbiz.de/10011242223
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On the Sources and Consequences of Oil Price Shocks; The Role of Storage
Unalmis, Deren; Unalmis, Ibrahim; Unsal, D. Filiz - International Monetary Fund (IMF) - 2012
demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil storage facility … shown to have a mitigating or amplifying role depending on the nature of the shock. …
Persistent link: https://www.econbiz.de/10011242253
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The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa
International Monetary Fund (IMF); International … - 2012
exchange rate, the exchange regime, and liberalization. We find that in our sample, for the determinants of growth, investment …
Persistent link: https://www.econbiz.de/10010790391
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World Food Prices, the Terms of Trade-Real Exchange Rate Nexus, and Monetary Policy
Catão, Luis; Chang, Roberto - International Monetary Fund (IMF) - 2013
How should monetary policy respond to large fluctuations in world food prices? We study this question in an open economy model in which imported food has a larger weight in domestic consumption than abroad and international risk sharing can be imperfect. A key novelty is that the real exchange...
Persistent link: https://www.econbiz.de/10010838009