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Bayesian Vars; A Survey of the Recent Literature with An Application to the European Monetary System
Ciccarelli, Matteo; Rebucci, Alessandro - International Monetary Fund (IMF) - 2003
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs …). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman … issues in forecasting and structural analysis. An application to the estimation of a system of time-varying reaction …
Persistent link: https://www.econbiz.de/10005825693
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The Implications of Cross-Border Monetary Aggregation
Lane, Timothy D.; Kremers, Jeroen J. M. - International Monetary Fund (IMF) - 1992
Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European...
Persistent link: https://www.econbiz.de/10005264074
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Money Demand in Guyana
Egoumé-Bossogo, Philippe - International Monetary Fund (IMF) - 2000
This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops a stable error-correction model based on a long-run cointegrating vector of money...
Persistent link: https://www.econbiz.de/10005825837
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The Dominican Republic; Stabilization, Structural Reform, and Economic Growth
Cardoso, Jaime; Young, Philip M. - International Monetary Fund (IMF) - 2002
Persistent link: https://www.econbiz.de/10005590873
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Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges
Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010
This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...
Persistent link: https://www.econbiz.de/10008519491
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Broad Money Demand and Asset Substitution in China
Wu, Ge - International Monetary Fund (IMF) - 2009
Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment in which monetary policy operates. In light of these...
Persistent link: https://www.econbiz.de/10008528622
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The Impact of Public Capital, Human Capital, and Knowledgeon Aggregate Output
Joutz, Frederick L.; Abdih, Yasser - International Monetary Fund (IMF) - 2008
in human capital or skill. Using Johansen's (1988 and 1991) multivariate cointegration analysis, we find a positive and …
Persistent link: https://www.econbiz.de/10005263996
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Guinea; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2006
This Selected Issues paper examines the sources of real growth in Guinea. It identifies and quantifies the impact on real GDP growth of both the exogenous shocks and the policy changes that have occurred since 2000. The paper offers, first, some empirical evidence on real GDP growth in Guinea...
Persistent link: https://www.econbiz.de/10005825469
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Economic Growth and total Factor Productivity in Niger
Nachega, Jean-Claude; Fontaine, Thomson - International Monetary Fund (IMF) - 2006
This paper investigates empirically the sources of aggregate output growth and the determinants of total factor productivity (TFP) in Niger between 1963 and 2003. A growth accounting analysis indicates that the erosion in output per capita over the sample period is due to the negative growth of...
Persistent link: https://www.econbiz.de/10005826119
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Is Russia Still Driving Regional Economic Growth?
Pani, Marco; Jafarov, Etibar; Shiells, Clinton R. - International Monetary Fund (IMF) - 2005
This paper investigates whether the linkages between economic growth in Russia and growth in other countries in the region have weakened over time, particularly following the 1998 Russian crisis. It specifies an econometric model that includes standard growth determinants as well as Russian...
Persistent link: https://www.econbiz.de/10005599404