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various tax rates lead to lower budget deficits in the long run, as a result of an expanding tax base and lower unemployment …
Persistent link: https://www.econbiz.de/10014401626
This Selected Issues paper analyzes sustaining potential growth in Aruba. As in the other Caribbean countries, there are growing concerns in Aruba about the slowdown in economic growth over the past two decades and the consequent tepid outlook for potential growth. Tackling such concerns...
Persistent link: https://www.econbiz.de/10011245149
plan, the government will seek long-term capital for investment. Trade policy will be modified to unburden business of the …
Persistent link: https://www.econbiz.de/10005591671
We show that US natural gas prices have decoupled from oil prices following substantial institutional and technological changes. We then examine how this interrelationship has evolved in Europe using data for Algeria, one of Europe’s key gas suppliers. Taking into account total gas...
Persistent link: https://www.econbiz.de/10009151207
This paper assesses recent developments in gas markets and the implications for Algerian gas demand and prices. Algeria’s gas production is stable but its share in global gas production has been on a downward trend since the early 2000s. The impact of a change in the spot oil price (WTI)...
Persistent link: https://www.econbiz.de/10011242810
Persistent link: https://www.econbiz.de/10009424818
This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks. In the data, nondurable consumption is not as volatile as income for both developed and emerging market economies. The simulation of...
Persistent link: https://www.econbiz.de/10009151224
The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT … amended to account for various phenomena that often complicate policy analysis in emerging markets, such as persistent trends … calibrating small ''gap'' models of monetary policy transmission. Moreover, the definition of the model''s steady state in terms …
Persistent link: https://www.econbiz.de/10014400322
In the literature on exports and investment, most productive firms are seen to invest abroad. In the Helpman et al. (2004) model, costs of transportation play a critical role in the decision about whether to serve foreign customers by exporting, or by producing abroad. We consider the case of...
Persistent link: https://www.econbiz.de/10014403090
model under alternative structural policy scenarios. In the first scenario, characterized by severe structural rigidities …
Persistent link: https://www.econbiz.de/10014395794