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Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large multicountry econometric models, apparently primarily because these models have...
Persistent link: https://www.econbiz.de/10014396137
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
The aim of the paper is to shift the focus of famine analysis away from food supply towards the macroeconomic determinants of food entitlement—i.e., to the ability of individuals to purchase food. Towards this end, we develop a model to demonstrate how loose monetary and fiscal policies may...
Persistent link: https://www.econbiz.de/10014396163
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
Persistent link: https://www.econbiz.de/10004860300
Summarizes the for ward-looking analytical work program on macroeconomic issues related to the Poverty Reduction Strategy Paper approach. The program is evolving through a process that began with a technical workshop; participants from low-income countries, donors, academia, and civil society...
Persistent link: https://www.econbiz.de/10014399158
This paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in …
Persistent link: https://www.econbiz.de/10014399868
Persistent link: https://www.econbiz.de/10014409942
Country Experiences and Issues Going Forward". In those discussions, the Boards of both institutions endorsed a public debt …
Persistent link: https://www.econbiz.de/10014410079
-designed budget institutions can help countries to plan and deliver successful fiscal adjustments. A 2010 internal IMF study … identified ten budget institutions which can support the consolidation process, assessed their strength in each G-20 country, and … framework, this paper: (i) reports on progress in strengthening their budget institutions; (ii) analyzes their impact on post …
Persistent link: https://www.econbiz.de/10014410659