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On the Distributive Effects of Terms of Trade Shocks : The Role of Non-Tradable Goods
International Monetary Fund - 2010
We introduce non-tradable goods to the Heckscher-Ohlin-Samuelson (HOS) model to study the distributive effects of terms of trade shocks. We show that the employment of resources in activities producing exclusively for the local market induces a crucial association between domestic spending and...
Persistent link: https://www.econbiz.de/10014402915
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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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Guidance Note on the Exogenous Shocks Facility
International Monetary Fund - 2006
The ESF, established within the Poverty Reduction and Growth Facility and Exogenous Shocks Facility (PRGF-ESF) Trust, complements existing Fund instruments for providing timely support, including financing at more appropriate terms, to low-income members that are facing sudden and exogenous...
Persistent link: https://www.econbiz.de/10014410054
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Current Account Dynamics : The Role of Real Shocks
International Monetary Fund - 1989
account for movements in trade imbalances, and the decline in private saving and investment observed recently in developed …
Persistent link: https://www.econbiz.de/10014395801
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The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks
International Monetary Fund - 1988
due to the fact that investment falls while saving remains unchanged. This paper shows that if currency substitution is … introduced into the analysis, the same shock could cause a current account deficit. Furthermore, the higher the dependence of the … saving following the terms of trade deterioration. The fall in saving could be larger than the decline in investment …
Persistent link: https://www.econbiz.de/10014396256
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Optimal Incentives to Domestic Investment in the Presence of Capital Flight
International Monetary Fund - 1989
This paper develops a model of an open economy which employs distortionary taxes to finance public consumption, and with an access to the world capital market. The paper examines the efficiency of quantity restrictions on capital exports and the accompanying set of taxes. A distinction is made...
Persistent link: https://www.econbiz.de/10014395795
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Saving-Investment Correlations : Immobile Capital. Government Policy or Endogenous Behavior?
International Monetary Fund - 1989
This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over …
Persistent link: https://www.econbiz.de/10014396226
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Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation
International Monetary Fund - 1988
results from the requirement that non-traded inputs are used in the investment process. In the short-run, though, the effects …
Persistent link: https://www.econbiz.de/10014396304
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Equilibrium in a Non-Interest Open Economy
International Monetary Fund - 1988
both goods and equity shares. It is shown that the rate of return to capital equilibrates savings and investment, that the …
Persistent link: https://www.econbiz.de/10014395912
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A Forward-Looking Macroeconomic Simulation Model for a Developing Country
International Monetary Fund - 1989
on familiar macroeconomic theory and in which expectations are formed rationally. The model is useful for the analysis …
Persistent link: https://www.econbiz.de/10014396359