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Output Gap in Presence of Financial Frictions and Monetary Policy Trade-offs
Furlanetto, Francesco; Gelain, Paolo; Sanjani, Marzie Taheri - International Monetary Fund (IMF) - 2014
The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure...
Persistent link: https://www.econbiz.de/10010800969
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Estimating Potential Growth in the Middle East and Central Asia
Mitra, Pritha; Hosny, Amr; Abajyan, Gohar; Fischer, Mark - International Monetary Fund (IMF) - 2015
The Middle East and Central Asia’s economic growth potential is slowing faster than in other emerging and developing regions, dampening hopes for reducing persistent unemployment and improving the region’s generally low living standards. Why? And is it possible to alter this...
Persistent link: https://www.econbiz.de/10011242348
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How can Korea Boost Potential Output to Ensure Continued Income Convergence?
Jain-Chandra, Sonali; Zhang, Longmei - International Monetary Fund (IMF) - 2014
Korea’s rapid growth has slowed in recent years, suggesting lower potential growth. This paper uses an array of techniques, including statistical filters, a multivariate model and the production function, to estimate Korea’s potential growth. The main finding is that trend growth...
Persistent link: https://www.econbiz.de/10011142072
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Estimating Sri Lanka’s Potential Output
Ding, Ding; Nelmes, John; Perera, Roshan; Tulin, Volodymyr - International Monetary Fund (IMF) - 2014
In this paper we present various techniques to estimate Sri Lanka’s potential output and output gap, including statistical and model-based approaches. Compared to conventional statistical filters that rely exclusively on information in a single series, the model-based approaches allow...
Persistent link: https://www.econbiz.de/10011142089
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Corruption and Military Spending
International Monetary Fund (IMF); International … - 2000
Anecdotal evidence relates corruption with high levels of military spending. This paper tests empirically whether such a relationship exists. The empirical analysis is based on data from four different sources for up to 120 countries in the period 1985–98. The association between military...
Persistent link: https://www.econbiz.de/10005599529
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Pacific Island Countries: In Search of a Trade Strategy
Chen, Hong; Rauqeuqe, Lanieta; Singh, Shiu raj; Wu, Yiqun; … - International Monetary Fund (IMF) - 2014
tourism for a number of PICs. Moreover, if a strong two-way linkage is established between tourism and agriculture, Pacific …
Persistent link: https://www.econbiz.de/10010959471
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Barbados; Sectoral Balance Sheet Mismatches and Macroeconomic Vulnerabilities
Yartey, Charles Amo - International Monetary Fund (IMF) - 2012
This paper uses the balance sheet approach to analyze macroeconomic vulnerabilities in Barbados between 2006 and 2009. It discusses the financial position of the economy and its main sectors and the sectors' exposure to changes in exchange rates. The main finding of the analysis is that the...
Persistent link: https://www.econbiz.de/10009650635
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Spillovers From Europe Into Morocco and Tunisia
Florea, Daniel; Toujas-Bernate, Joël; Bock, Reinout De - International Monetary Fund (IMF) - 2010
growth in Morocco and Tunisia. For Tunisia, exports and, to a much lesser extent, tourism appear to be the major transmission … channels. In Morocco, exports, remittances and tourism play relatively equal roles. An analysis with sectoral data supports …
Persistent link: https://www.econbiz.de/10008727792
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What Attracts tourists to Paradise?
Tsounta, Evridiki - International Monetary Fund (IMF) - 2008
This paper investigates the determinants of tourism demand in the Eastern Caribbean Currency Union. We estimate the … demand function in a panel setting using annual data from 1979 to 2005. Results show that tourism arrivals are significantly … servicing a destination, are also found to be significant determinants of tourism demand. …
Persistent link: https://www.econbiz.de/10005769110
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Tourism Specialization and Economic Development+L4183; Evidence from the UNESCO World Heritage List
Piotrowski, John M.; Arezki, Rabah; Cherif, Reda - International Monetary Fund (IMF) - 2009
The present paper investigates whether tourism specialization is a viable strategy for development. We estimate … standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques … for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the …
Persistent link: https://www.econbiz.de/10008528655