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Financial Crises in DSGE Models: A Prototype Model
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2014
This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy....
Persistent link: https://www.econbiz.de/10010790398
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Financial Crises in DSGE Models: Selected Applications of MAPMOD
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2014
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the...
Persistent link: https://www.econbiz.de/10010790408
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Public Investment as an Engine of Growth
Warner, Andrew M. - International Monetary Fund (IMF) - 2014
This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On...
Persistent link: https://www.econbiz.de/10010959467
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Mexico: 2014 Article IV Consultation-Staff Report; and Press Release
International Monetary Fund (IMF); International … - 2014
This 2014 Article IV Consultation highlights that after a sharp slowdown in 2013, growth in Mexico is projected to …
Persistent link: https://www.econbiz.de/10011244756
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Mexico: Staff Report for the 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that over the past year, Mexico has maintained macroeconomic policy …
Persistent link: https://www.econbiz.de/10011245002
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Mexico: Report on the Observance of Standards and Codes—Data Module
International Monetary Fund (IMF); International … - 2013
This Report on the Observance of Standards and Codes (ROSC) Data Module provides an assessment of Mexico’s macroeconomic statistics against the Special Data Dissemination Standard (SDDS) complemented by an assessment of data quality based on the IMF’s Data Quality Assessment...
Persistent link: https://www.econbiz.de/10011245044
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Mexico: Selected Issues Paper
International Monetary Fund (IMF); International … - 2014
This Selected Issues paper analyzes the impact of Mexico’s energy reform on hydrocarbons production. These reforms aim to increase oil and gas production by eliminating the state oil company’s (PEMEX) monopoly on exploration and production of hydrocarbons, while retaining the prime...
Persistent link: https://www.econbiz.de/10011245058
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Emigration and Wages in Source Countries; Evidence From Mexico
Mishra, Prachi - International Monetary Fund (IMF) - 2006
This paper empirically examines the effect on wages in Mexico of Mexican emigration to the United States, using data … and positive effect on Mexican wages. There is also evidence for increasing wage inequality in Mexico due to emigration …. Simple welfare calculations based on a labor demand-supply framework suggest that the aggregate welfare loss to Mexico due to …
Persistent link: https://www.econbiz.de/10005605072
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Income Mobility and Welfare
Krebs, Tom; Krishna, Pravin; Maloney, William - International Monetary Fund (IMF) - 2013
measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking … results. Much of measured income mobility is driven by measurement error or transitory income shocks and therefore (almost …
Persistent link: https://www.econbiz.de/10010790325
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Output Gap Uncertainty and Real-Time Monetary Policy
Grigoli, Francesco; Herman, Alexander; Swiston, Andrew; … - International Monetary Fund (IMF) - 2015
Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetary policy of assessments of economic activity relative to capacity. We show that...
Persistent link: https://www.econbiz.de/10011163120