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Competition and Firm Productivity; Evidence From Firm-Level Data

Schiffbauer, Marc; Ospina, Sandra - International Monetary Fund (IMF) - 2010

This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations … competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more … pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to …

Persistent link: https://www.econbiz.de/10008470387

Much Ado About Nothing? Estimating the Impact of a U.S. Slowdownon Thai Growth

Aiyar, Shekhar; Tchakarov, Ivan - International Monetary Fund (IMF) - 2008

External demand was the main driver of growth in Thailand in 2006 and 2007. However, WEO projections indicate moderating foreign demand in 2008, with U.S. growth being revised downwards to reflect the turmoil in housing and credit markets, and high oil prices. While the share of Thai exports to...

Persistent link: https://www.econbiz.de/10005248323

Measuring Contagion with a Bayesian Time-Varying Coefficient Model

Rebucci, Alessandro; Ciccarelli, Matteo - International Monetary Fund (IMF) - 2003

We propose using a Bayesian time-varying coefficient model estimated with Markov chain-Monte Carlo methods to measure contagion empirically. The proposed measure works in the joint presence of heteroskedasticity and omitted variables and does not require knowledge of the timing of the crisis. It...

Persistent link: https://www.econbiz.de/10005263948

A Bayesian Approach to Model Uncertainty

Tsangarides, Charalambos G. - International Monetary Fund (IMF) - 2004

This paper develops the theoretical background for the Limited Information Bayesian Model Averaging (LIBMA). The proposed approach accounts for model uncertainty by averaging over all possible combinations of predictors when making inferences about the variables of interest, and it...

Persistent link: https://www.econbiz.de/10005264140

Limited Information Bayesian Model Averaging for Dynamic Panels with An Application to a Trade Gravity Model

Chen, Huigang; Mirestean, Alin; Tsangarides, Charalambos G. - International Monetary Fund (IMF) - 2011

This paper extends the Bayesian Model Averaging framework to panel data models where the lagged dependent variable as well as endogenous variables appear as regressors. We propose a Limited Information Bayesian Model Averaging (LIBMA) methodology and then test it using simulated data. Simulation...

Persistent link: https://www.econbiz.de/10009327870

On the Estimation of Term Structure Models and An Application to the United States

International Monetary Fund (IMF); International … - 2010

This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term structure models, specifically the Nelson-Siegel Model and Affine Term- Structure Model, this paper estimates the terms structure of Treasury bond yields for the United States with...

Persistent link: https://www.econbiz.de/10008727797

Structural Breaks in Fiscal Performance; Did Fiscal Responsibility Laws Have Anything to Do with them?

Medina, Leandro; Caceres, Carlos; Corbacho, Ana - International Monetary Fund (IMF) - 2010

In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically...

Persistent link: https://www.econbiz.de/10008727801

Vietnam; Bayesian Estimation of Output Gap

Maliszewski, Wojciech - International Monetary Fund (IMF) - 2010

The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other parameters. Model coefficients are easily interpretable, and the output gap series is...

Persistent link: https://www.econbiz.de/10008560446

Exchange Rate Regime Transitions

Masson, Paul R. - International Monetary Fund (IMF) - 2000

The “hollowing-out,” or “two poles” hypothesis is tested in the context of a Markov chain model of exchange rate transitions. In particular, two versions of the hypothesis—that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to...

Persistent link: https://www.econbiz.de/10005825618

Bayesian Vars; A Survey of the Recent Literature with An Application to the European Monetary System

Ciccarelli, Matteo; Rebucci, Alessandro - International Monetary Fund (IMF) - 2003

This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...

Persistent link: https://www.econbiz.de/10005825693

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