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India’s Recent Macroeconomic Performance: An Assessment and Way Forward
Kapur, Muneesh; Mohan, Rakesh - International Monetary Fund (IMF) - 2014
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in...
Persistent link: https://www.econbiz.de/10011142116
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Resilience in Latin America: Lessons from Macroeconomic Management and Financial Policies
Gregorio, Jose De - International Monetary Fund (IMF) - 2013
This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level...
Persistent link: https://www.econbiz.de/10010790395
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Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?
Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2014
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...
Persistent link: https://www.econbiz.de/10011123846
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Why Was Asia Resilient? Lessons from the Past and for the Future
Jeasakul, Phakawa; Lim, Cheng Hoon; Lundbäck, Erik J. - International Monetary Fund (IMF) - 2014
Asia proved to be remarkably resilient in the face of the global financial crisis, but why was its output performance stronger than that of other regions? The paper shows that better initial conditions—in the form of lower external and financial vulnerabilities—contributed...
Persistent link: https://www.econbiz.de/10011142139
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Commodity Price Shocks and Imperfectly Credible Macroeconomic Policies in Commodity-Exporting Small Open Economies
Guzman, Juan Pablo Medina; Soto, Claudio - International Monetary Fund (IMF) - 2014
effectiveness of macroeconomic policies to isolate the economy from commodity price fluctuations. We develop a general equilibrium … model for a commodity-exporting economy where macro policies are conducted through rules. We show that the responses of … isolate the economy from terms of trade fluctuations. …
Persistent link: https://www.econbiz.de/10010790403
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Impact of Demographic Changes on Inflation and the Macroeconomy
Yoon, Jong-Won; Kim, Jinill; Lee, Jungjin - International Monetary Fund (IMF) - 2014
population, which will have significant impact on the global economy. Despite potentially grave consequences, demographic changes …
Persistent link: https://www.econbiz.de/10011123847
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The Flexible System of Global Models – FSGM
Andrle, Michal; Blagrave, Patrick; Espaillat, Pedro; … - International Monetary Fund (IMF) - 2015
The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on...
Persistent link: https://www.econbiz.de/10011242191
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Spillovers in the Nordic Countries
Mircheva, Borislava; Muir, Dirk - International Monetary Fund (IMF) - 2015
Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF’s Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible...
Persistent link: https://www.econbiz.de/10011242239
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Structural Balance Targeting and Output Gap Uncertainty
Tereanu, Eugen; Tuladhar, Anita; Simone, Alejandro - International Monetary Fund (IMF) - 2014
Potential output estimation plays a crucial role in conducting fiscal policy based on structural balances. Difficulties in estimating potential output could lead to an erroneous policy stance with a consequent impact on growth. This paper analyzes historical data on revisions of actual and...
Persistent link: https://www.econbiz.de/10011123853
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Growing (Un)equal: Fiscal Policy and Income Inequality in China and BRIC+
Cevik, Serhan; Correa-Caro, Carolina - International Monetary Fund (IMF) - 2015
This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we...
Persistent link: https://www.econbiz.de/10011242236