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GEM; A New International Macroeconomic Model
Bayoumi, Tamim; Faruqee, Hamid; Laxton, Douglas; Karam, … - International Monetary Fund (IMF) - 2004
Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s...
Persistent link: https://www.econbiz.de/10005590952
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Brazil: Selected Issues
International Monetary Fund (IMF); International … - 2013
implementation of the infrastructure investment program, higher domestic saving, and structural reforms. … dividend of a rapidly expanding labor force is fading and further structural declines in unemployment are likely to be limited …
Persistent link: https://www.econbiz.de/10011242465
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Saudi Arabia; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This staff report on Saudi Arabia’s 2013 Article IV Consultation discusses economic policies and development. As the largest crude oil exporter, and the only producer with significant spare capacity, Saudi Arabia plays a systemic and stabilizing role in the global oil market. In 2011,...
Persistent link: https://www.econbiz.de/10011244901
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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies
Bhattacharya, Rudrani; Patnaik, Ila - International Monetary Fund (IMF) - 2013
How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that … greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more … volatile than income, indicates that financial reform further increases the volatility of consumption relative to output. We …
Persistent link: https://www.econbiz.de/10010790416
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Kenya; Poverty Reduction Strategy Annual Progress Report: 2003/2004
International Monetary Fund (IMF); International … - 2007
encouraging accelerated bank lending for domestic investment. The public sector has been kept on a fiscally sustainable course. In …
Persistent link: https://www.econbiz.de/10011242927
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Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?
Erbil, Nese - International Monetary Fund (IMF) - 2011
-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary …
Persistent link: https://www.econbiz.de/10009203530
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Country Stress Events; Does Governance Matter?
Kochanova, Anna; Caceres, Carlos - International Monetary Fund (IMF) - 2012
This paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduced. The results suggest that weaker governance quality is associated with a higher...
Persistent link: https://www.econbiz.de/10011242318
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Strengthening Russia's Fiscal Framework
Zakharova, Daria; Gust, Charleen - International Monetary Fund (IMF) - 2012
Though many aspects of Russia's fiscal policy framework are close to best practice on paper, actual practice in recent years has been moving away from best practice. In particular, the continued focus on the overall rather than the nonoil balance, and the regular use of supplemental budgets to...
Persistent link: https://www.econbiz.de/10011242442
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Riding the Roller Coaster; Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean
Murphy, Pablo Lopez; Villafuerte, Mauricio; Ossowski, … - International Monetary Fund (IMF) - 2010
This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees...
Persistent link: https://www.econbiz.de/10008727790
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Structural Breaks in Fiscal Performance; Did Fiscal Responsibility Laws Have Anything to Do with them?
Medina, Leandro; Caceres, Carlos; Corbacho, Ana - International Monetary Fund (IMF) - 2010
In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically...
Persistent link: https://www.econbiz.de/10008727801