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Measuring Output Gap : Is it Worth Your Time?

Chen, Jiaqian - 2020

We apply a range of models to the U.K. data to obtain estimates of the output gap. A structural VAR with an appropriate identification strategy provides improved estimates of output gap with better real time properties and lower sensitivity to temporary shocks than the usual filtering...

Persistent link: https://www.econbiz.de/10012839682

Price Statistics Compilation in 196 Economies : The Relevance for Policy Analysis

Berry, Francien - 2019

The consumer price index (CPI) is a key economic indicator used to gauge inflation, adjust wages, pensions, and social … that the CPI is universally and frequently compiled, timely, and fairly-well aligned with international standards. However … and ensure that the indexes properly measure the price evolution in the economy …

Persistent link: https://www.econbiz.de/10012864105

Monetary Policy Transmission in Emerging Markets and Developing Economies

Brandao-Marques, Luis - 2020

Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often...

Persistent link: https://www.econbiz.de/10012839314

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

Deb, Pragyan - 2019

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expansionary credit and fiscal policies contributed, the trend decline has been largely...

Persistent link: https://www.econbiz.de/10012858380

Decomposing the Inflation Dynamics in the Philippines

Guo, Si - 2019

both sides in 2018, with the supply factors, by and large, associated with commodity-price shocks and demand factors …

Persistent link: https://www.econbiz.de/10012864114

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area

Batini, Nicoletta - 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...

Persistent link: https://www.econbiz.de/10012828229

Structural Breaks in Fiscal Performance : Did Fiscal Responsibility Laws Have Anything to do with Them?

Caceres, Carlos - 2010

In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically...

Persistent link: https://www.econbiz.de/10013135277

6 1/2 Decades of Global Trade and Income : 'New Normal' or 'Back to Normal' after GTC and GFC?

Rumbaugh, Thomas - 2016

Global merchandise trade expanded rapidly over the last 6 1/2 decades and its relationship with global income has seen ebbs and flows. This paper examines the shifts in this relationship using time series data over 1950-2014 and situates it in the current and longer term context. The...

Persistent link: https://www.econbiz.de/10012977826

Breaking Through the Zero Lower Bound

Agarwal, Ruchir - 2016

There has been much discussion about eliminating the 'zero lower bound' by eliminating paper currency. But such a radical and difficult approach as eliminating paper currency is not necessary. Much as during the Great Depression-when countries were able to revive their economies by going off the...

Persistent link: https://www.econbiz.de/10013002154

Structural Breaks in Carbon Emissions : A Machine Learning Analysis

Yao, Jiaxiong; Zhao, Yunhui - 2022

To reach the global net-zero goal, the level of carbon emissions has to fall substantially at speed rarely seen in history, highlighting the need to identify structural breaks in carbon emission patterns and understand forces that could bring about such breaks. In this paper, we identify and...

Persistent link: https://www.econbiz.de/10013295116

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