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Do Monetary Policy Frameworks Matter in Low Income Countries?
Carare, Alina; de Resende, Carlos; Levin, Andrew T.; … - 2021
In recent years, many Low-Income Countries (LICs) have implemented substantial reforms to their monetary policy frameworks, but existing economic research has not provided a clear rationale to guide those efforts. In this paper we analyze the role of monetary policy frameworks in the propagation...
Persistent link: https://www.econbiz.de/10013315132
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Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia
Bhattacharya, Rina - 2013
This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and … uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role … does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging …
Persistent link: https://www.econbiz.de/10013078381
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Does a Regional Trade Agreement Lessen or Exacerbate Growth Volatility? An Empirical Investigation
Kpodar, Kangni - 2015
This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 countries with data spanning the period 1978-2012.Notwithstanding concerns that trade openness through RTAs can heighten exposure to shocks, in particular when it leads to increased...
Persistent link: https://www.econbiz.de/10013015607
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Commodity Price Shocks and Fiscal Outcomes
Spatafora, Nicola - 2013
The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) price increases; the response of the fiscal deficit is ambiguous. A floating exchange...
Persistent link: https://www.econbiz.de/10013090367
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Macroeconomic Effects of Sovereign Restructuring in a Monetary Union : A Model-Based Approach
Forni, Lorenzo - 2014
We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by …
Persistent link: https://www.econbiz.de/10013059858
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Imported Food Price Shocks and Socio-Political Instability : Do Fiscal Policy and Remittances Matter?
Meyimdjui, Carine - 2021
Using a panel of 101 low- and middle-income countries with data covering the period 1980-2012, this paper applies various econometric approaches that deal with endogeneity issues to assess the impact of food price shocks on socio-political instability once fiscal policy and remittances have been...
Persistent link: https://www.econbiz.de/10013252035
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Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries
Honda, Jiro - 2020
spending shocks, it is thus important to consider the state of the economy and the country's structural characteristics. Our …
Persistent link: https://www.econbiz.de/10012831612
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Cross-Country Spillovers of Fiscal Consolidations in the Euro Area
Poghosyan, Tigran - 2017
This paper revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal consolidation in one country not only reduces domestic output (direct effect), but...
Persistent link: https://www.econbiz.de/10012950411
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Monitoring the Climate Impact of Fiscal Policy - Lessons from Tracking the Covid-19 Response
Eltokhy, Khaled; Funke, Katja; Huang, Guohua; Kim, Yujin; … - 2022
In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the economic impact of the crisis. The unusually large scale of the packages was accompanied by widespread calls for “greening” them to meet the dual goals of economic recovery...
Persistent link: https://www.econbiz.de/10013299319
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Getting to Know GIMF : The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek - 2014
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model's...
Persistent link: https://www.econbiz.de/10013064363