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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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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
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Banks in the Global Integrated Monetary and Fiscal Model
Andrle, Michal - 2015
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region DSGE model developed by the Economic Modeling Division of the IMF for policy and scenario analysis. This paper compares two versions of GIMF, GIMF with a conventional financial accelerator, where bank balance sheets do not...
Persistent link: https://www.econbiz.de/10013016607
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Cross-Border Transmission of Fiscal Shocks : The Role of Monetary Conditions
Blagrave, Patrick - 2018
conditions. Empirical results are compared to simulations with a state-of-the-art estimated open-economy New Keynesian model. Our …
Persistent link: https://www.econbiz.de/10012913940