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Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries
Honda, Jiro - 2020
What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
Persistent link: https://www.econbiz.de/10012831612
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Brazil's Long-Term Growth Performance - Trying to Explain the Puzzle
Adrogue, Ricardo - 2007
This paper assesses Brazil's growth performance from a long-term perspective, using crosscountry and panel estimation techniques, building on the vast empirical literature on growth. The empirical evidence presented in this paper confirms that macroeconomic stability and several reforms have...
Persistent link: https://www.econbiz.de/10012777952
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Assessing Oil and Non-Oil GDP Growth from Space : An Application to Yemen 2012-17
Debbich, Majdi - 2019
This paper uses an untapped source of satellite-recorded nightlights and gas flaring data to characterize the contraction of economic activity in Yemen throughout the ongoing conflict that erupted in 2015. Using estimated nightlights elasticities on a sample of 72 countries for real GDP and 28...
Persistent link: https://www.econbiz.de/10012858960
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National Income and its Distribution
Brueckner, Markus - 2014
Does the distribution of income within a country become more equal as it grows richer? This paper uses plausibly exogenous variations in trade-weighted world income and international oil price shocks as instruments for within-country variations in countries' real GDP per capita to examine this...
Persistent link: https://www.econbiz.de/10013050681
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Predictive Density Aggregation : A Model for Global GDP Growth
Caselli, Francesca - 2020
In this paper we propose a novel approach to obtain the predictive density of global GDP growth. It hinges upon a bottom-up probabilistic model that estimates and combines single countries' predictive GDP growth densities, taking into account cross-country interdependencies. Specifically,we...
Persistent link: https://www.econbiz.de/10012829696
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Product Variety and Economic Growth : Empirical Evidence for the OECD Countries
Funke, Michael - 2021
This paper uses panel data for 19 OECD countries and finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The empirical work relies upon some direct measures of product variety calculated from...
Persistent link: https://www.econbiz.de/10013317978
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Measuring Quarterly Economic Growth from Outer Space
Beyer, Robert; Hu, Yingyao; Yao, Jiaxiong - 2022
This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The estimated elasticity is 1.55 for...
Persistent link: https://www.econbiz.de/10014082217
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The Myth of Post-Reform Income Stagnation
Carvalho Filho, Irineu E. - 2008
Economic policies are often judged by a handful of statistics, some of which may be biased during periods of change. We estimate the income growth implied by the evolution of food demand and durable good ownership in post-reform Brazil and Mexico, and find that changes in consumption patterns...
Persistent link: https://www.econbiz.de/10012677643
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Public Debt Dynamics : The Effects of Austerity, Inflation, and Growth Shocks
Cherif, Reda - 2012
austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically … significant. In a weak economic environment, the likelihood of a self-defeating austerity shock is much higher than in normal … times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …
Persistent link: https://www.econbiz.de/10013098577
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The Global Financial Crisis : An Anatomy of Global Growth
Matheson, Troy - 2013
The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A...
Persistent link: https://www.econbiz.de/10013082486