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The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union; A View From the Supply Side

International Monetary Fund (IMF); International … - 2000

The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...

Persistent link: https://www.econbiz.de/10005263697

Common and Idiosyncratic Components in Real Output; Further International Evidence

Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2002

This paper uses the classical (level) definition of business cycles to analyze the characteristics-duration, amplitude, steepness, and cumulative output movements-of the real GDP series of France, Germany, Italy, the rest of the euro area, and the United States. An index of concordance and its...

Persistent link: https://www.econbiz.de/10005263734

Sources of Inflation in Sub-Saharan Africa

Peiris, Shanaka J.; Barnichon, Régis - International Monetary Fund (IMF) - 2007

vectors for the production function and the real money demand function to recover the structural output and money gaps for …

Persistent link: https://www.econbiz.de/10005263752

Output Response to Currency Crises

Sahay, Ratna; Mishra, Deepak; Gupta, Poonam - International Monetary Fund (IMF) - 2003

This paper analyzes the behavior of output during currency crises using a sample of 195 crisis episodes in 91 developing countries during 1970-98. It finds that more than two-fifths of the crises in the sample were expansionary, and that output contraction was greater in large and more developed...

Persistent link: https://www.econbiz.de/10005263977

The Perils of Tax Smoothing; Sustainable Fiscal Policy with Random Shocks to Permanent Output

Tanner, Evan; Carey, Kevin Joseph - International Monetary Fund (IMF) - 2005

If permanent output is uncertain, tax smoothing can be perilous: both debt levels and tax rates are difficult to stabilize and may drift upwards. One practical remedy would be to target the debt. However, our simulations confirm that such a policy would require undesirably volatile fiscal...

Persistent link: https://www.econbiz.de/10005264166

A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic

Benes, Jaromir; Papa M'B. P. N'Diaye - International Monetary Fund (IMF) - 2004

This paper presents a multivariate (MV) methodology for obtaining measures of excess demand that can facilitate discussion of monetary policy issues and improve policy decisions. Using data for the Czech Republic, a growing economy undergoing major structural change, it shows how the use of more...

Persistent link: https://www.econbiz.de/10005264226

South Africa; The Cyclical Behavior of the Markups and its Implications for Monetary Policy

Klein, Nir - International Monetary Fund (IMF) - 2011

The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector's markup is relatively high, thus pointing to the lack of strong competition in South Africa's product markets. Additionally,...

Persistent link: https://www.econbiz.de/10009293762

External Adjustment and the Global Crisis

Milesi-Ferretti, Gian-Maria; Lane, Philip R. - International Monetary Fund (IMF) - 2011

After widening substantially in the period preceding the global financial crisis, current account imbalances across the world have contracted to a significant extent. This paper analyzes the factors underlying this process of external adjustment. It finds that countries whose pre-crisis current...

Persistent link: https://www.econbiz.de/10009293775

Vietnam; Bayesian Estimation of Output Gap

Maliszewski, Wojciech - International Monetary Fund (IMF) - 2010

The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other parameters. Model coefficients are easily interpretable, and the output gap series is...

Persistent link: https://www.econbiz.de/10008560446

How Different is the Cyclical Behavior of Home Production Across Countries?

Kose, M. Ayhan; Blankenau, William - International Monetary Fund (IMF) - 2006

This paper studies stylized business cycle properties of household production in four industrialized countries (Canada … household production sector. We use the model to generate data on home output, hours worked in the home sector, and hours spent … variables are generally less persistent than market variables, and cross-country correlations related to home production tend to …

Persistent link: https://www.econbiz.de/10005825641