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In this paper we present various techniques to estimate Sri Lanka’s potential output and output gap, including statistical and model-based approaches. Compared to conventional statistical filters that rely exclusively on information in a single series, the model-based approaches allow...
Persistent link: https://www.econbiz.de/10011142089
In this paper we examine the channels through which innovations to policy variables— policy rates or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy instruments is judged through the prism of...
Persistent link: https://www.econbiz.de/10011123834
EXECUTIVE SUMMARY Context. Sri Lanka’s economy has navigated recent market turbulence relatively well. Growth has remained solid, inflation is in mid-single digits, and the current account deficit has narrowed. From mid-May, the exchange rate came under pressure as market expectations of...
Persistent link: https://www.econbiz.de/10011242930
EXECUTIVE SUMMARY Sri Lanka’s 2009 Stand-By Arrangement was initiated at the onset of the global financial crisis. It also coincided with the ending of the country’s decades-old civil conflict. This unusual combination of circumstances made the program subject to very high economic...
Persistent link: https://www.econbiz.de/10011244058
KEY ISSUES Context. Macroeconomic performance has generally exceeded expectations. Real GDP grew 7.3 percent for 2013, up from 6.3 percent in 2012. Inflation declined to below 5 percent, and the external current account balance has improved. Private credit growth has been slow, however, a number...
Persistent link: https://www.econbiz.de/10011245192
EXECUTIVE SUMMARY The first chapter on monetary policy transmission examines the channels through which innovations to policy variables—policy rate or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy...
Persistent link: https://www.econbiz.de/10011245463
Persistent link: https://www.econbiz.de/10005590873
How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...
Persistent link: https://www.econbiz.de/10005590924
This Selected Issues paper discusses several features of the Slovene economy that may explain the weak relationship between credit and domestic demand growth. It reviews credit growth developments in Slovenia and in selected European Union new member states, and compares their experiences with...
Persistent link: https://www.econbiz.de/10005591008
This 2003 Article IV Consultation highlights that despite significant slowdowns in activity in some major overseas markets, New Zealand has maintained a strong pace of economic growth over the past three years. The economy’s performance reflected its enhanced flexibility, stemming from...
Persistent link: https://www.econbiz.de/10005591029