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Ireland; Selected Issues
International Monetary Fund (IMF); International … - 2004
the catch-up in labor utilization productivity and use independent demographic projections and other considerations to … make reasonable assumptions about labor productivity and utilization growth in the future. It uses a simple growth …-accounting framework, and discusses the trends in labor utilization and productivity per hour in the past. The paper also describes the …
Persistent link: https://www.econbiz.de/10005825025
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Denmark; 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
The global financial crisis hit Denmark hard, and the recovery has been slow and unsteady. Denmark’s slow growth predates the recent economic crisis, and the economy has underperformed its regional peers. The current account remains in surplus, largely reflecting weak domestic demand...
Persistent link: https://www.econbiz.de/10011244874
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Germany; 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice; and Statement by the Executive Director for Germany
International Monetary Fund (IMF); International … - 2008
consistent with, the forces of international financial integration. Stepping up productivity is the key to sustaining growth …
Persistent link: https://www.econbiz.de/10011242796
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Financial Frictions and Sources of Business Cycle
Sanjani, Marzie Taheri - International Monetary Fund (IMF) - 2014
This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model...
Persistent link: https://www.econbiz.de/10010959466
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Capital Flows, Financial Intermediation and Macroprudential Policies
Ghilardi, Matteo; Peiris, Shanaka J. - International Monetary Fund (IMF) - 2014
This paper develops an open-economy DSGE model with an optimizing banking sector to assess the role of capital flows, macro-financial linkages, and macroprudential policies in emerging Asia. The key result is that macro-prudential measures can usefully complement monetary policy. Countercyclical...
Persistent link: https://www.econbiz.de/10010959468
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Output Gap in Presence of Financial Frictions and Monetary Policy Trade-offs
Furlanetto, Francesco; Gelain, Paolo; Sanjani, Marzie Taheri - International Monetary Fund (IMF) - 2014
The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure...
Persistent link: https://www.econbiz.de/10010800969
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Financial Frictions in Data: Evidence and Impact
Sanjani, Marzie Taheri - International Monetary Fund (IMF) - 2014
This paper investigates financial frictions in US postwar data to understand the interaction between the real business cycle and the credit market. A Bayesian estimation technique is used to estimate a large Vector Autoregression and New Keynesian models demonstrating how financial shocks can...
Persistent link: https://www.econbiz.de/10011144607
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Macroprudential Policy and Labor Market Dynamics in Emerging Economies
Shapiro, Alan Finkelstein; Gonzalez, Andres - International Monetary Fund (IMF) - 2015
consumption and output volatility, but generates larger unemployment fluctuations in response to productivity shocks; the same …
Persistent link: https://www.econbiz.de/10011242278
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Remittances and Macroeconomic Volatility in African Countries
Jidoud, Ahmat - International Monetary Fund (IMF) - 2015
This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances—as a share of GDP—have a...
Persistent link: https://www.econbiz.de/10011242418
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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