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Cointegrated TFP Processes and International Business Cycles
Tuesta, Vicente - 2009
A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the ""rest of the world,"" is characterized by a vector error...
Persistent link: https://www.econbiz.de/10012677880
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Much Ado About Nothing? Estimating the Impact of a U.S. Slowdown on Thai Growth
Aiyar, Shekhar - 2008
's largest export destination. We use a small structural model and Bayesian estimation to assess the possible impact of a U …
Persistent link: https://www.econbiz.de/10012677605
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Measuring Quarterly Economic Growth from Outer Space
Beyer, Robert - 2022
This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The estimated elasticity is 1.55 for...
Persistent link: https://www.econbiz.de/10015060380
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Political Institutions and Output Collapses
Imam, Patrick - 2023
Major output collapses are costly and frequent in the developing world. Using cross-country data, we classify five-year periods using a two-dimensional state space based on growth regimes and political institutions. We then model the joint evolution of output growth and political institutions as...
Persistent link: https://www.econbiz.de/10015059959
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Demand vs. Supply Decomposition of Inflation: Cross-Country Evidence with Applications
Firat, Melih - 2023
What are the contributions of demand and supply factors to inflation? To address this question, we follow Shapiro (2022 …) and construct quarterly demand-driven and supply-driven inflation series for 32 countries utilizing sectoral Personal … Consumption Expenditures (PCE) data. We highlight global trends and country-specific differences in inflation decompositions …
Persistent link: https://www.econbiz.de/10015059045
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Debt Overhang Model for Low-Income Countries : Implications for Debt Relief
Koeda, Junko - 2006
Persistent link: https://www.econbiz.de/10012691033
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Expenditure Composition and Distortionary Tax for Equitable Economic Growth.
Park, Hyun - 2006
Persistent link: https://www.econbiz.de/10012691087
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Banks as Coordinators of Economic Growth.
Ueda, Kenichi - 2006
Intro -- Contents -- I. INTRODUCTION -- II. MODEL SETTING AND CHARACTERISTICS -- III. UNIQUE EQUILIBRIUM CANDIDATE WITH STRATEGIC INTERMEDIATION -- IV. EXISTENCE OF AN EQUILIBRIUM WITH FREE RECONTRACTING OPPORTUNITY -- V. DISCUSSION -- VI. CONCLUDING REMARKS -- REFERENCES -- APPENDIX I. PROOFS...
Persistent link: https://www.econbiz.de/10012691170
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An Alternative Explanation for the Resource Curse
Alichi, Ali - 2009
The paper provides an alternative explanation for the ""resource curse"" based on the income effect resulting from high government current spending in resource rich economies. Using a simple life cycle framework, we show that private investment in the non-resource sector is adversely affected if...
Persistent link: https://www.econbiz.de/10012677783
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Tourism Specialization and Economic Development
Piotrowski, John M. - 2009
The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period...
Persistent link: https://www.econbiz.de/10012677835