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Analyzing Fiscal Space Using the MAMS Model
Fund, International Monetary - 2009
This paper analyses economic implications and the transmission mechanisms of different options for creating and using fiscal space. For creating fiscal space, we consider prioritizing expenditures, raising revenue, and scaled-up aid. Fiscal space is used for increasing health and education...
Persistent link: https://www.econbiz.de/10012677888
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Advancing India’s Structural Transformation and Catch-up to the Technology Frontier
Alonso, Cristian - 2024
While India’s growth has been strong in recent decades, its structural transformation remains incomplete. In this paper …, we first take stock of India’s growth to date. We find that economic activity has shifted from agriculture to services … consider India’s employment challenge going forward. We find that India needs to create between 143-324 million jobs by 2050 …
Persistent link: https://www.econbiz.de/10015080244
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The Game of Anchors : Studying the Causes of Currency Crises in Belarus
Miksjuk, A. Ju.; Ouliaris, Sam; Pranovich, Mikhail - 2015
Belarus experienced a sequence of currency crises during 2009-2014. Our empirical results, based on a structural econometric model, suggest that the activist wage policy and extensive state program lending (SPL) conflicted with the tightly managed exchange rate regime and suppressed monetary...
Persistent link: https://www.econbiz.de/10014407962
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Peru : monetary and exchange rate policies, 1930 – 1980
Pastor, Gonzalo - 2012
This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such as the collapse of the gold standard and the rise and fall of the Bretton Woods...
Persistent link: https://www.econbiz.de/10009618509
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The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
Hesse, Heiko - 2009
This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July 2007. Extraordinary liquidity provisions, such as the Term Auction Facility by the...
Persistent link: https://www.econbiz.de/10012677877
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Escaping the Financial Dollarization Trap: The Role of Foreign Exchange Intervention
Castillo, Paul - 2024
Financial dollarization is considered a source of macroeconomic instability in many emerging economies. Dollarization constrains the ability of central banks to stimulate output during economic downturns. In contrast to the conventional monetary transmission mechanism, a monetary policy...
Persistent link: https://www.econbiz.de/10015080299
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Managing Guyana's Oil Wealth: Monetary and Exchange Rate Policy Considerations
Bhattacharya, Rina - 2022
International oil producers have discovered commercially recoverable petroleum reserves of around 11 billion barrels that promise to transform Guyana's agricultural and mining economy into an oil powerhouse, while hopefully helping to diversify the non-oil economy. Oil production presents a...
Persistent link: https://www.econbiz.de/10015059974
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India’s Recent Macroeconomic Performance: An Assessment and Way Forward
Kapur, Muneesh; Mohan, Rakesh - International Monetary Fund (IMF) - 2014
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting …
Persistent link: https://www.econbiz.de/10011142116
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Fiscal Policy and Economic Development
Mourmouras, Alex - 2008
This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3)...
Persistent link: https://www.econbiz.de/10012677599
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Policy analysis and forecasting in the world economy : a panel unobserved components approach
Vitek, Francis - 2012
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...
Persistent link: https://www.econbiz.de/10009618572