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Money Versus Credit in the Determination of Output for Small Open Economies
International Monetary Fund - 1989
It is well known that in a small open economy where there is perfect substitutability between domestic and foreign assets and costless portfolio adjustment, the monetary authorities cannot control the money supply, but can influence the balance of payments through the use of domestic credit. It...
Persistent link: https://www.econbiz.de/10014395792
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Dynamics of Devaluation and ""Equivalent"" Fiscal Policies for a Small Open Economy
International Monetary Fund - 1989
In pursuing a steady-state reserve target, policymakers in small open economies can resort to devaluation or to temporary increases in public saving. This paper contrasts the dynamic implications of these alternative policies in a model with optimizing agents who possess perfect foresight. In...
Persistent link: https://www.econbiz.de/10014395937
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A Noteon Terms of Trade Shocks and the Wage Gap
International Monetary Fund - 2010
Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-tradable sector, following the model in Galiani, Heymann, and Magud (2010). For a...
Persistent link: https://www.econbiz.de/10014403224
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Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses
International Monetary Fund - 1988
backward-looking inflation expectations. However, it does not lead to instability in several large multicountry econometric …
Persistent link: https://www.econbiz.de/10014396137
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An Econometric Rational Expectations Macroeconomic Model for Developing Countries with Capital Controls
International Monetary Fund - 1990
A small macroeconomic model based on familiar theoretical considerations is developed and estimated using data from 31 developing countries. Efficient estimation techniques are used to control for country heterogeneity under the assumption of rational expectations. The estimates and the test...
Persistent link: https://www.econbiz.de/10014396265
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The dynamic implications of debt relief for low-income countries
Romero-Barrutieta, Alma Lucía - 2011
Persistent link: https://www.econbiz.de/10009424818
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Asia and Pacific Small States : Raising Potential Growth and Enhancing Resilience to Shocks
International Monetary Fund - 2013
The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards. These countries are particularly vulnerable because of their small populations, geographical isolation and dispersion, narrow export and production bases, lack of...
Persistent link: https://www.econbiz.de/10014410680
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Tax Administration in Small Economies
International Monetary Fund - 2010
This technical note analyzes tax administration in small economies. Choosing the right organization structure is a key component of any program of tax administration reform and modernization. It creates a solid platform from which all other enhancements can follow. Organizations and agencies...
Persistent link: https://www.econbiz.de/10014401592
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Inflation Targeting Lite' in Small Open Economies : The Case of Mauritius
International Monetary Fund - 2005
''s experience with ''inflation targeting lite'' as described in Stone (2003). It finds that this monetary policy regime has been … associated with a general reduction in inflation, principally through a reduction in inflation expectations. The credibility the … Bank of Mauritius has established with its ''inflation targeting lite'' regime has allowed it to shift from an emphasis on …
Persistent link: https://www.econbiz.de/10014404183
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Dynamic Responses to Policy and Exogenous Shocks in an Empirical Developing-Country Model with Rational Expectations
International Monetary Fund - 1990
The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country...
Persistent link: https://www.econbiz.de/10014396467