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ECCU Business Cycles
Sun, Yan - 2009
With a fixed peg to the U.S. dollar for more than three decades, the tourism-dependent Eastern Caribbean Currency Union (ECCU) countries share a close economic relationship with the U.S. This paper analyzes the impact of the United States on ECCU business cycles and identifies possible...
Persistent link: https://www.econbiz.de/10012677751
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Three Cycles
Tamirisa, Natalia T. - 2009
We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in...
Persistent link: https://www.econbiz.de/10012677891
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Unconventional Fiscal Policy in Times of High Inflation
Dao, Mai - 2023
The surge in energy prices in 2022 has been a defining factor behind the increase in euro area inflation. We assess the impact of "unconventional fiscal policy," defined as the set of fiscal measures, possibly expansionary, motivated by a desire to mute the effects of the increase in energy...
Persistent link: https://www.econbiz.de/10015059180
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Financial Shocks and TFP Growth
Severo, Tiago - 2010
The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on …
Persistent link: https://www.econbiz.de/10012677536
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Commodity Price Volatility and the Sources of Growth
International Monetary Fund (IMF); International … - 2012
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …
Persistent link: https://www.econbiz.de/10009650613
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Economic Integration, Business Cycle, and Productivity in North America
Kose, M. Ayhan; Cardarelli, Roberto - International Monetary Fund (IMF) - 2004
productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement … productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence … of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also …
Persistent link: https://www.econbiz.de/10005769318
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Quantifying impact of aging population on fiscal space
Park, Seok Gil - 2012
This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration exercise for G-7 countries shows that France, Germany and Italy suffer greater revenue impact...
Persistent link: https://www.econbiz.de/10009618513
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Small Island States in the Pacific : the Tyranny of Distance
Becker, Chris - 2012
Cover -- Contents -- Abstract -- I. Introduction -- II. Defining Small States by population -- III. Lacking Economies of Scale -- A. Fixed costs spread over narrow base -- B. Scope for regional cooperation -- IV. Income per capita -- V. Scope for Import substitution through agriculture -- VI....
Persistent link: https://www.econbiz.de/10009622524
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Balance of Payments Anti-Crises
Yan, Isabel K. - 2009
Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciations and in some cases increases in domestic inflation. We show that one way to...
Persistent link: https://www.econbiz.de/10012677804
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Welfare Gains of Aid Indexation in Small Open Economies
Dhasmana, Anubha - 2008
Foreign aid flows to poor, aid-dependent economies are highly volatile and pro-cyclical. Shortfalls in aid coincide with shortfalls in GDP and government revenues. This increases the consumption volatility in aid dependent countries, thereby causing substantial welfare losses. This paper finds...
Persistent link: https://www.econbiz.de/10012677584