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Co-movement of major commodity price returns: A time-series assessment:
de Nicola, Francesca; De Pace, Pierangelo; Hernandez, … - International Food Policy Research Institute (IFPRI) - 2014
This paper provides a comprehensive analysis of the degree of co-movement among the nominal price returns of 11 major energy, agricultural, and food commodities using monthly data between 1970 and 2013. The authors study the extent and the time evolution of unconditional and conditional...
Persistent link: https://www.econbiz.de/10010886774
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Kenya; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2009
Like most Sub-Saharan African countries, Kenya’s economic growth appears to have been primarily driven by factor accumulation. The Selected Issues paper and Statistical Appendix for Kenya examines economic developments and policies. During the last two decades, Kenya has been plagued by...
Persistent link: https://www.econbiz.de/10011244155
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The Distributional Consequences of Real Exchange Rate Adjustment
Klyuev, Vladimir - International Monetary Fund (IMF) - 2003
The paper focuses on distributional consequences of macroeconomic adjustment. The preferences of economic agents over the level of the real exchange rate derived from standard models are monotonic, with agents favoring either an infinitely appreciated or depreciated rate. To generate less...
Persistent link: https://www.econbiz.de/10005248306
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A VAR Analysis of Kenya's Monetary Policy Transmission Mechanism; How Does the Central Bank's REPO Rate Affect the Economy?
Cheng, Kevin C. - International Monetary Fund (IMF) - 2006
This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …
Persistent link: https://www.econbiz.de/10005263733
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Sources of Inflation in Sub-Saharan Africa
Peiris, Shanaka J.; Barnichon, Régis - International Monetary Fund (IMF) - 2007
This paper explores the sources of inflation in Sub-Saharan Africa by examining the relationship between inflation, the output gap, and the real money gap. Using heterogeneous panel cointegration estimation techniques, we estimate cointegrating vectors for the production function and the real...
Persistent link: https://www.econbiz.de/10005263752
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Can Markets Compute Equilibria?
Monroe, Hunter K. - International Monetary Fund (IMF) - 2009
equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can … realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with Leontief preferences, the … time required to compute equilibrium prices using the fastest known techniques is an exponential function of the number of …
Persistent link: https://www.econbiz.de/10005264183
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The Cyclicality of Fiscal Policies in the CEMAC Region
International Monetary Fund (IMF); International … - 2011
This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. The issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal...
Persistent link: https://www.econbiz.de/10009293764
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More on Prices Versus Quantities
Laffont, J.J. - Département de Sciences Économiques, Université de … - 1975
Persistent link: https://www.econbiz.de/10005729720
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Cointegrated TFP Processes and International Business Cycles
Tuesta, Vicente; Rubio-Ramirez, Juan F.; Rabanal, Pau - International Monetary Fund (IMF) - 2009
A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the "rest of the world," is characterized by a vector error...
Persistent link: https://www.econbiz.de/10008559267
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Social Welfare and Cost Recovery in Two-Sided Markets
Bolt, Wilko; Tieman, Alexander F. - International Monetary Fund (IMF) - 2005
to increase users' participation by setting prices at both sides of the market such that the total price is below …
Persistent link: https://www.econbiz.de/10005825848