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The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...
Persistent link: https://www.econbiz.de/10014399817
The aim of this paper is to address the implications of Global Value Chains (GVCs) for the Fund's surveillance work … countries and regions through GVCs and its impact on the real economy. The paper then examines the implications of GVCs for the …, and shows the potential benefit of revisiting the REER formula in light of the increasing relevance of GVCs. The paper …
Persistent link: https://www.econbiz.de/10014410433
Persistent link: https://www.econbiz.de/10004069189
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10014402215
Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global...
Persistent link: https://www.econbiz.de/10014408459
There is a widespread view that the adjustment of U.S. trade prices--and hence merchandise trade flows--in the face of the substantial dollar depreciation since early 1985 has been slower than might have been expected. This paper examines the recent behavior of U.S. trade prices, and concludes...
Persistent link: https://www.econbiz.de/10014396298
The economy recovered quickly from the global crisis of 2008–09, with healthy growth and low inflation. Growth has, however, slowed recently and is expected to remain subdued in the short run, since gains from recovery in the U.S. will be offset by the closure of the Intel manufacturing...
Persistent link: https://www.econbiz.de/10011245289
This article is a synopsis on Costa Rica’s international spillovers, potential estimates, fiscal challenges, and banking systems. Spillovers are originated by cross-country trade and financial linkages, and also by the impact of global fiscal consolidation. The banking sector has about...
Persistent link: https://www.econbiz.de/10011242574
Persistent link: https://www.econbiz.de/10011242762
This paper discusses pilot fiscal transparency assessment for Costa Rica. The assessment confirmed that Costa Rica has various excellent and sophisticated fiscal transparency practices. Those include: (1) institutional coverage with annual consolidated budgetary information for the entire public...
Persistent link: https://www.econbiz.de/10011243178