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Growth in International Commodity Prices, the Terms of Trade, and GDP Per Capita : A Case Study of Vietnam

Brückner, Markus - 2016

The Vietnamese economy is characterized by a high degree of international trade openness and a relatively low GDP share … commodity prices, on Vietnam's GDP per capita growth. The paper finds that, during 2000-2014, growth in the terms of trade … contributed positively to Vietnam's GDP per capita growth but the effect is not large: less than one-tenth of Vietnam's GDP per …

Persistent link: https://www.econbiz.de/10012984044

Some Global Effects of President Trump's Economic Program

McKibbin, Warwick J. - 2017

program on the world economy. The model has 17 major economies and regions each with six sectors of production and trade as … well as a capital goods producing sector. The paper shows how President Trump's economic policies affect the global economy …

Persistent link: https://www.econbiz.de/10012948839

What Do We Know About the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers

Castelnuovo, Efrem - 2018

/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as …

Persistent link: https://www.econbiz.de/10012907777

Fiscal consolidations

Brückner, Markus - 2021

I examine whether action-based fiscal consolidations are exogenous to contemporaneous GDP growth. Based on the narrative record, these fiscal consolidations had the primary objective to reduce a budget deficit. I find that temperature changes, the GDP growth rate of trading partners, and an...

Persistent link: https://www.econbiz.de/10013220168

Covid-19 Fiscal Support and its Effectiveness

Chudik, Alexander; Mohaddes, Kamiar; Raissi, Mehdi - 2021

This paper uses a threshold-augmented Global VAR model to quantify the macroeconomic effects of countries’ discretionary fiscal actions in response to the Covid-19 pandemic and its fallout. Our results are threefold: (1) fiscal policy is playing a key role in mitigating the effects of the...

Persistent link: https://www.econbiz.de/10013241336

Identifying Global and National Output and Fiscal Policy Shocks Using a GVAR

Chudik, Alexander - 2019

The paper contributes to the growing global VAR (GVAR) literature by showing how global and national shocks can be identified within a GVAR framework. The usefulness of the proposed approach is illustrated in an application to the analysis of the interactions between public debt and real output...

Persistent link: https://www.econbiz.de/10012894312

Unpleasant Monetarist Arithmetic : Macroprudential Edition

Libich, Jan - 2017

The 2008 crisis highlighted the linkages between the financial sector and the real economy, as well as between the …

Persistent link: https://www.econbiz.de/10012954375

Indonesian Macro Policy Through Two Crises

Azwar, Prayudhi - 2016

Indonesia fielded shocks due to the Asian financial crisis (AFC) and the global financial crisis (GFC) quite differently. Financial contagion, policy misdirection, panic and political upheaval saw the AFC bring economic collapse. The decade-later GFC, however, brought real growth of 6.1% (2008)...

Persistent link: https://www.econbiz.de/10013004674

Inflation Dynamics : The Role of Public Debt and Policy Regimes

Bhattarai, Saroj - 2014

We investigate the roles of a time-varying inflation target and monetary and fiscal policy stances on the dynamics of inflation in a DSGE model. Under an active monetary and passive fiscal policy regime, inflation closely follows the path of the inflation target and a stronger reaction of...

Persistent link: https://www.econbiz.de/10013062016

Fiscal Foundations of Inflation : Imperfect Knowledge

Eusepi, Stefano - 2017

estimated medium-scale DSGE model, reveal the US economy would have been substantially more volatile over the Great Inflation …

Persistent link: https://www.econbiz.de/10012957323