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Xie, Danyang; Wang, Ping - International Monetary Fund (IMF) - 2002

This paper constructs an integrated framework to disentangle the underlying economic mechanism of industrial transformation. We consider three essential elements for the analysis: skill requirements, industry-wide spillovers, and degrees of consumption subsistence. We find that human and...

Persistent link: https://www.econbiz.de/10005604997

Recent U.S. Labor Force Dynamics: Reversible or not?

Balakrishnan, Ravi; Dao, Mai; Sole, Juan; Zook, Jeremy - International Monetary Fund (IMF) - 2015

The U.S. labor force participation rate (LFPR) fell dramatically following the Great Recession and has yet to start recovering. A key question is how much of the post-2007 decline is reversible, something which is central to the policy debate. The key finding of this paper is that while around...

Persistent link: https://www.econbiz.de/10011242381

Uncertainty and Unemployment: The Effects of Aggregate and Sectoral Channels

Choi, Sangyup; Loungani, Prakash - International Monetary Fund (IMF) - 2015

We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with …

Persistent link: https://www.econbiz.de/10011242392

Aid, Exports, and Growth; A Time-Series Perspective on the Dutch Disease Hypothesis

Kang, Joong Shik; Prati, Alessandro; Rebucci, Alessandro - International Monetary Fund (IMF) - 2013

We use a heterogeneous panel VAR model identified through factor analysis to study the dynamic response of exports, imports, and per capita GDP growth to a “global” aid shock. We find that a global aid shock can affect exports, imports, and growth either positively or negatively. As a...

Persistent link: https://www.econbiz.de/10011242264

The Endogenous Skill Bias of Technical Change and Inequality in Developing Countries

Behar, Alberto - International Monetary Fund (IMF) - 2013

This paper draws on existing empirical literature and an original theoretical model to argue that globalization and skill supply affect the extent to which technology adoption in developing countries favors skilled workers. Developing countries are experiencing technical change that is...

Persistent link: https://www.econbiz.de/10010790338

Trade Openness and Volatility

Levchenko, Andrei A.; Giovanni, Julian di - International Monetary Fund (IMF) - 2008

This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is...

Persistent link: https://www.econbiz.de/10010790347

The Convergence Dynamics of a Transition Economy; The Case of the Czech Republic

Bruha, Jan; Podpiera, Jiri; Polák, Stanislav - International Monetary Fund (IMF) - 2007

In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Economy Macroeconomics literature and amend it to address specific features such as...

Persistent link: https://www.econbiz.de/10005768774

What Are the Potential Economic Benefits of Enlarging the Gulf Cooperation Council?

Elekdag, Selim; Chami, Saade; Tchakarov, Ivan - International Monetary Fund (IMF) - 2004

This paper uses a variant of the IMF's Global Economy Model (GEM) to estimate the macroeconomic effects of Yemen's full accession into the Gulf Cooperation Council (GCC). After calibrating the model to Yemen and the GCC countries, several simulations were carried out to estimate the potential...

Persistent link: https://www.econbiz.de/10005768829

The Impact of U.S. Economic Growthon the Rest of the World; How Much Does it Matter?

Vamvakidis, Athanasios; Arora, Vivek B. - International Monetary Fund (IMF) - 2001

This paper provides a quantitative assessment of the impact of economic growth in the United States on growth in other countries. Using panel data estimation, the paper finds a significant positive impact of U.S. growth on growth in the rest of the world, especially developing countries, during...

Persistent link: https://www.econbiz.de/10005769024

Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model

Ganelli, Giovanni; Tervala, Juha - International Monetary Fund (IMF) - 2007

This paper focuses on the trade-off faced by governments in deciding the allocation of public expenditures between productivity-enhancing public infrastructures and utility-enhancing public consumption. From the modeling point of view, the paper augments a standard New Open Economy...

Persistent link: https://www.econbiz.de/10005769025