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Cyclical Fiscal Rules for Oil-Exporting Countries
Snudden, Stephen - International Monetary Fund (IMF) - 2013
Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...
Persistent link: https://www.econbiz.de/10010790379
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Output and Unemployment Dynamics During the Great Recession; A Panel Unobserved Components Analysis
Vitek, Francis - International Monetary Fund (IMF) - 2010
economy specific combinations of negative domestic or foreign output demand shocks, mitigated to varying degrees by …
Persistent link: https://www.econbiz.de/10008646428
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Oil and the World Economy; Some Possible Futures
Kumhof, Michael; Muir, Dirk - International Monetary Fund (IMF) - 2012
This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But...
Persistent link: https://www.econbiz.de/10011242343
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GPM6; The Global Projection Model with 6 Regions
Carabenciov, Ioan; Freedman, Charles; Garcia-Saltos, Roberto - International Monetary Fund (IMF) - 2013
This is the sixth of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economists have access for studying both own-country and cross-country linkages. In this...
Persistent link: https://www.econbiz.de/10011242396
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Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013
experiments, including fiscal, monetary, financial, demand, supply, and international shocks. …
Persistent link: https://www.econbiz.de/10011242434
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Indonesia; Selected Issues
International Monetary Fund (IMF); International … - 2012
This selected issues paper on Indonesia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on August 21, 2012. The views expressed...
Persistent link: https://www.econbiz.de/10011243208
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The Differential Effects of Oil Demand and Supply Shocks on the Global Economy
Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi; Raissi, … - International Monetary Fund (IMF) - 2012
countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and … consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic …-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in …
Persistent link: https://www.econbiz.de/10011142133
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On the Sources of Oil Price Fluctuations
Unalmis, Deren; Unalmis, Ibrahim; Unsal, D. Filiz - International Monetary Fund (IMF) - 2009
and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a … precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE …
Persistent link: https://www.econbiz.de/10008561072
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Monetary Policy and Bank Risk-Taking
Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2010
view that monetary policy easing induces greater risk-taking by banks but also shows that the relationship between real … interest rates and banking risk is more complex. Ultimately, it depends on how much skin in the game banks have. The central …
Persistent link: https://www.econbiz.de/10011123889
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Monetary Policy Transmission in the GCC Countries
Prasad, Ananthakrishnan; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2012
The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates to retail rates is on the low side, reflecting the...
Persistent link: https://www.econbiz.de/10010878414