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Euro Area Policies: Selected Issues
International Monetary Fund (IMF); International … - 2014
This Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of...
Persistent link: https://www.econbiz.de/10011244439
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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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Cross-Country Linkages in Europe; A Global VAR Analysis
Sun, Yan; Heinz, Frigyes F; Ho, Giang - International Monetary Fund (IMF) - 2013
This paper uses the Global VAR (GVAR) model proposed by Pesaran et al. (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, etc.), and the Central, Eastern and Southeastern European (CESEE) countries. An innovative...
Persistent link: https://www.econbiz.de/10011242313
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Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?
Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2014
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not … stimulus in the short-run, the expansionary effects of higher public investment are substantially strengthened with an … presents a window of opportunity to finance higher public investment at historically favorable rates. …
Persistent link: https://www.econbiz.de/10011123846
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A Global Projection Model for Euro Area Large Economies
Jakab, Zoltan; Lukyantsau, Pavel; Wang, Shengzu - International Monetary Fund (IMF) - 2015
The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because...
Persistent link: https://www.econbiz.de/10011242224
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Fiscal Devaluation in a Monetary Union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - International Monetary Fund (IMF) - 2014
Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ‘Southern European countries’ has a strong...
Persistent link: https://www.econbiz.de/10011142031
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A Model-Based Analysis of Spillovers: The Case of Poland and the Euro Area
Andrle, Michal; Garcia-Saltos, Roberto; Ho, Giang - International Monetary Fund (IMF) - 2014
This paper studies economic and financial spillovers from the euro area to Poland in a two-country semi-structural model. The model incorporates various channels of macrofinancial linkages and cross-border spillovers. We parameterize the model through an extensive calibration process, and...
Persistent link: https://www.econbiz.de/10011142199
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Rwanda; Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Nonobservance of Performance Criterion, and Modificati...
International Monetary Fund (IMF); International … - 2007
The Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility of Rwanda explains macroeconomic challenges. Indicative limits on domestic debt have been established. If these limits are exceeded or inflation is rekindled, the domestic component of fiscal...
Persistent link: https://www.econbiz.de/10011244847
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India; 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India
International Monetary Fund (IMF); International … - 2008
India’s strong growth and macroeconomic stability is owed to its sound macroeconomic policies and past structural reforms. Swelling capital inflows have highlighted the key policy challenges: managing financial globalization and tackling the supply constraints to growth. Monetary...
Persistent link: https://www.econbiz.de/10011244987
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Bangladesh; Financial System Stability Assessment
International Monetary Fund (IMF); International … - 2010
This paper reports on Bangladesh’s Financial System Stability Assessment. Considerable progress has been made in strengthening the resilience of the country's financial sector. Total assets of the banking sector have increased twofold since 2003, and credit to the private sector has risen...
Persistent link: https://www.econbiz.de/10011245298