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A Simple Monetary Model of a Shortage Economy

Lin, Shoukang - International Monetary Fund (IMF) - 1992

During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation of this phenomenon. The paper develops a simple monetary model and shows how...

Persistent link: https://www.econbiz.de/10005605137

Wage Claims, Incomes Policy, and the Path of Output and Inflation in a Formerly Centrally Planned Economy

Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 1992

degree of wage indexation is effective in lowering inflation if nominal wages do not provide, on average, full protection …

Persistent link: https://www.econbiz.de/10005605209

A Tradeoff between the Output and Current Account Effects of Pension Reform

Catalan, Mario; Magud, Nicolas E. - International Monetary Fund (IMF) - 2012

We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the...

Persistent link: https://www.econbiz.de/10010790246

What (Really) Accounts for the Fall in Hours After a Technology Shock?

Rebei, Nooman - International Monetary Fund (IMF) - 2012

formation and costly adjustment of investment model when sticky wages are included. …

Persistent link: https://www.econbiz.de/10010790268

Structural Reforms and Regional Convergence

Spilimbergo, Antonio; Che, Natasha Xingyuan - International Monetary Fund (IMF) - 2012

Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected labor market reforms facilitate regional convergence. However, these reforms have...

Persistent link: https://www.econbiz.de/10011142004

Physical Capital Adjustment within Spain; Long-Run and Short-Run Analysis

Spilimbergo, Antonio; Mauro, Paolo - International Monetary Fund (IMF) - 2001

return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of … physical capital; the system returns to its initial capital/labor ratio after four years. The sharp drop in employment is … consistent with the view that wages are rigid. The analysis of adjustment in the short run relies on a vector autoregression …

Persistent link: https://www.econbiz.de/10005263773

Regional Convergence and the Role of Federal Transfers in Canada

Swagel, Phillip; Dunaway, Steven Vincent; Kaufman, … - International Monetary Fund (IMF) - 2003

on output convergence. The evidence suggests that while the Employment Insurance (EI) system seems to have had a …

Persistent link: https://www.econbiz.de/10005264150

Estimating Potential Output and the Output Gap in Slovakia

Konuki, Tetsuya - International Monetary Fund (IMF) - 2008

This paper estimates potential output and the output gap for Slovakia which enjoyed rapid growth with few signs of economic overheating in recent years. It applies two broad sets of approaches: conventional methods, represented by a statistical method and a production function approach; and a...

Persistent link: https://www.econbiz.de/10005826202

Labor and Product Market Deregulation; Partial, Sequential, or Simultaneous Reform?

Berger, Helge; Danninger, Stephan - International Monetary Fund (IMF) - 2005

This study explores the effects of labor and product market deregulation on employment growth. Our empirical results … employment growth, including through sizable interaction effects. Based on these findings, the paper develops a theoretical …

Persistent link: https://www.econbiz.de/10005769319

Economic Restructuring, Unemployment, and Growth in a Transition Economy

Krajnyák, Kornélia; Chadha, Bankim; Coricelli, Fabrizio - International Monetary Fund (IMF) - 1993

This paper develops a model of the process of reallocation of labor from the state sector to the private sector. When growth is exogenously determined, we show that in the initial stages of transition unemployment will rise over time. After a critical stage in the transition process,...

Persistent link: https://www.econbiz.de/10005599418