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How Different is the Cyclical Behavior of Home Production Across Countries?
Kose, M. Ayhan; Blankenau, William - International Monetary Fund (IMF) - 2006
This paper studies stylized business cycle properties of household production in four industrialized countries (Canada … household production sector. We use the model to generate data on home output, hours worked in the home sector, and hours spent … variables are generally less persistent than market variables, and cross-country correlations related to home production tend to …
Persistent link: https://www.econbiz.de/10005825641
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Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy
Srour, Gabriel - International Monetary Fund (IMF) - 2004
The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...
Persistent link: https://www.econbiz.de/10005825986
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An Investigation of Output Variance Before and During Inflation Targeting
Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2001
Since Taylor estimated a trade-off between inflation and output variance, it has been widely accepted that efforts to keep the inflation rate “too low and stable” will likely result in relatively larger output fluctuations. Following the generalized reduction in inflation variance in the...
Persistent link: https://www.econbiz.de/10005826152
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Estimating Potential Output and the Output Gap in Slovakia
Konuki, Tetsuya - International Monetary Fund (IMF) - 2008
statistical method and a production function approach; and a multivariate (MV) Kalman filter method. The MV Kalman filter method …
Persistent link: https://www.econbiz.de/10005826202
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Philippines; Selected Issues Paper
International Monetary Fund (IMF); International … - 2011
This paper estimates potential growth in the Philippines using different methodologies, and discusses growth prospects for the medium term. Several approaches can be used to estimate potential growth. It also describes a forecasting and monetary policy analysis system (FPAS) model. Using the...
Persistent link: https://www.econbiz.de/10011243322
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Uruguay; 2011 Selected Issues
International Monetary Fund (IMF); International … - 2011
This 2011 Article IV Consultation—Selected Issues paper focuses on estimating potential output and the output gap and spillovers from agriculture in the case of Uruguay. It introduces additional economic information and theory to estimate potential output, shedding some light on the...
Persistent link: https://www.econbiz.de/10011243752
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Mongolia; Measuring the Output Gap
Bersch, Julia; Sinclair, Tara M. - International Monetary Fund (IMF) - 2011
This paper compares the output gap estimates for Mongolia based on a number of different methods. Special attention is paid to the substantial role of mining in the Mongolian economy. We find that a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of...
Persistent link: https://www.econbiz.de/10009019568
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Output and Unemployment Dynamics During the Great Recession; A Panel Unobserved Components Analysis
Vitek, Francis - International Monetary Fund (IMF) - 2010
This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated into its fifteen largest national economies. We find that excess supply pressure...
Persistent link: https://www.econbiz.de/10008646428
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Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy
International Monetary Fund (IMF); International … - 2010
This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The paper uses these results to estimate a New Keynesian Phillips curve for Armenia,...
Persistent link: https://www.econbiz.de/10008671293
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A Tradeoff between the Output and Current Account Effects of Pension Reform
Catalan, Mario; Magud, Nicolas E. - International Monetary Fund (IMF) - 2012
We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the...
Persistent link: https://www.econbiz.de/10010790246