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GEM; A New International Macroeconomic Model
Bayoumi, Tamim; Faruqee, Hamid; Laxton, Douglas; Karam, … - International Monetary Fund (IMF) - 2004
Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s...
Persistent link: https://www.econbiz.de/10005590952
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Infrastructure and Income Distribution in ASEAN-5; What are the Links?
Seneviratne, Dulani; Sun, Yan - International Monetary Fund (IMF) - 2013
covering 76 advanced and emerging market economies, this paper estimates the impact of infrastructure and investment on income … investment and income distribution is weak. …
Persistent link: https://www.econbiz.de/10011242245
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The East African Community; Prospects for Sustained Growth
McAuliffe, Catherine; Saxena, Sweta Chaman; Yabara, Masafumi - International Monetary Fund (IMF) - 2012
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of...
Persistent link: https://www.econbiz.de/10011242354
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The EU Services Directive: Gains from Further Liberalization
Corugedo, Emilio Fernández; Ruiz, Esther Pérez - International Monetary Fund (IMF) - 2014
The EU Services Directive was adopted in 2006 to foster competition in services across Europe. However, progress in liberalizing services has fallen short of expectations due to the article 15 of the Directive, which allows countries to maintain pre-existing restrictions if judged necessary to...
Persistent link: https://www.econbiz.de/10011142143
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The Dynamics of the Term Structure of Interest Rates in the United States in Light of the Financial Crisis of 2007-2010
Waldo, Marco Rodriguez; Medeiros, Carlos I. - International Monetary Fund (IMF) - 2011
This paper assesses the dynamics of the term structure of interest rates in the United States in light of the financial crisis in 2007-10. In particular, this paper assesses the dynamics of the term structure of U.S. Treasury security yields in light of economic and financial events and the...
Persistent link: https://www.econbiz.de/10009019574
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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies
Bhattacharya, Rudrani; Patnaik, Ila - International Monetary Fund (IMF) - 2013
How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that …
Persistent link: https://www.econbiz.de/10010790416
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Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy
Dabla-Norris, Era; Ji, Yan; Townsend, Robert; Unsal, D. … - International Monetary Fund (IMF) - 2015
We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of these constraints separately, and in combination, on GDP and inequality. We focus on three...
Persistent link: https://www.econbiz.de/10011163128
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Investment in the Euro Area: Why Has It Been Weak?
Barkbu, Bergljot; Berkmen, Pelin; Lukyantsau, Pavel; … - International Monetary Fund (IMF) - 2015
Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most …, corporate leverage, and uncertainty. There is a considerable cross country heterogeneity in terms of both investment dymanics … and its determinants. Based on the findings of this paper, investment is expected to pick up as the recovery strengthens …
Persistent link: https://www.econbiz.de/10011242193
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Asset Price Bubbles; A Selective Survey
Scherbina, Anna - International Monetary Fund (IMF) - 2013
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard rational models, the new literature is able to model...
Persistent link: https://www.econbiz.de/10011242201
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The Pacific Speed of Growth; How Fast Can It Be and What Determines It?
Yang, Yongzheng; Chen, Hong; Singh, Shiu raj; Singh, Baljeet - International Monetary Fund (IMF) - 2013
lower investment and exports compared with other small island states, but greater political stability, catch-up effects from …
Persistent link: https://www.econbiz.de/10011242206