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Tales From Two Neighbors; Productivity Growth in Canada and the United States
Cerisola, Martin D.; Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2000
This paper assesses productivity trends in Canada vis-a-vis the United States from two perspectives. The first one is … based on estimates of total factor productivity. The second one decomposes productivity growth into two sources: investment … underlying cause of the pickup in productivity in Canada and the narrowing of the productivity gap with the United States. …
Persistent link: https://www.econbiz.de/10005248234
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Does Technological Diffusion Explain Australia's Productivity Performance?
Tressel, Thierry - International Monetary Fund (IMF) - 2008
-factor productivity (MFP) in a panel of industries in 15 OECD countries over the period 1980 to 2003, with a special focus on Australia … productivity best practices over the past 16 years, and have benefited from the diffusion of Information and Communication …'s productivity performance and adoption of ICTs. …
Persistent link: https://www.econbiz.de/10005768866
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Information Technology and Productivity Growth in Asia
Lee, Il Houng; Khatri, Yougesh - International Monetary Fund (IMF) - 2003
in Asia during the 1990s is found to be mainly from capital deepening. Total factor productivity (TFP) is also decomposed …
Persistent link: https://www.econbiz.de/10005768879
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ICT Equipment Investment and Growth in Low- and Lower-Middle-Income Countries
Haacker, Markus - International Monetary Fund (IMF) - 2010
While production of ICT equipment plays a subordinate role for economic growth in most of these countries, they do benefit from capital deepening arising from falling prices of ICT equipment. Adapting established growth accounting approaches to the data environment of low-income countries, we...
Persistent link: https://www.econbiz.de/10008470403
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Comparing Projections and Outcomes of IMF-Supported Programs
Phillips, Steven; Musso, Alberto - International Monetary Fund (IMF) - 2001
“Program numbers” from a sample of IMF-supported programs are studied as if they were forecasts, through statistical analyses of the relationship between projections and outcomes for growth, inflation, and three balance of payments concepts. Statistical bias is found only for projections of...
Persistent link: https://www.econbiz.de/10005263972
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Banks' Reserve Management, Transaction Costs, and the Timing of Federal Reserve Intervention
Bertola, Giuseppe; Bartolini, Leonardo; Prati, Alessandro - International Monetary Fund (IMF) - 2000
We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each “reserve maintenance period,” when the...
Persistent link: https://www.econbiz.de/10005825728
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Kernel Density Estimation Basedon Grouped Data; The Case of Poverty Assessment
Minoiu, Camelia; Reddy, Sanjay - International Monetary Fund (IMF) - 2008
We analyze the performance of kernel density methods applied to grouped data to estimate poverty (as applied in Sala-i-Martin, 2006, QJE). Using Monte Carlo simulations and household surveys, we find that the technique gives rise to biases in poverty estimates, the sign and magnitude of which...
Persistent link: https://www.econbiz.de/10005826163
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Parity Reversion in Real Exchange Rates; Fast, Slow or Not At All?
McDermott, C. John; Cashin, Paul - International Monetary Fund (IMF) - 2004
Consensus estimates put the half-life of deviations from purchasing power parity (PPP) at about four years (Rogoff, 1996). However, conventional least squares estimates of half-lives are biased downward. Accordingly, as a preferred measure of the persistence of real exchange rate shocks, this...
Persistent link: https://www.econbiz.de/10005604970
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Emerging Markets in Transition: Growth Prospects and Challenges
Cubeddu, Luis M.; Culiuc, Alexander; Fayad, Ghada; Gao, Yuan - International Monetary Fund (IMF) - 2014
After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the post-crisis peak of 2010-11, as well as the rates seen in the decade before the...
Persistent link: https://www.econbiz.de/10010878427
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How to Capture Macro-Financial Spillover Effects in Stress Tests?
Hesse, Heiko; Salman, Ferhan; Schmieder, Christian - International Monetary Fund (IMF) - 2014
meaningful macro-financial linkages, i.e., taking into account spillover effects and other forms of contagion. We come up with an … approach to simulate the potential impact of spillover effects based on the “traditional†design of macro-economic stress … tests. Specifically, we examine spillover effects observed during the financial crisis and simulate their impact on banksâ …
Persistent link: https://www.econbiz.de/10011142079