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The Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand
Hunt, Ben - 2009
In this paper, the IMF's new Global Economy Model (GEM) is used to estimate the contribution of unbalanced growth to the decline in the share of goods production in Australia and New Zealand. The simulation results suggest that faster productivity growth in the tradable goods sector in...
Persistent link: https://www.econbiz.de/10012677711
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The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector
Mercer-Blackman, Valerie - 2008
-2002 Survey of Manufacturers database in Colombia to analyze this question. We estimate the effect of the R&D tax deduction … instituted in Colombia using Zellner's Seemingly Unrelated Regressions method, and find that the elasticity of demand of R …&D investment in manufacturing is quite high in Colombia compared to other countries, particularly for smalle …
Persistent link: https://www.econbiz.de/10012677634
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Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia
Clements, Benedict J. - 2009
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate … the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that …
Persistent link: https://www.econbiz.de/10012677725
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Social Security Reforms in Colombia
Clavijo, Sergio - 2009
of public health care in Colombia during 1993-2008. Parametric pension reforms have focused on increasing the retirement … security system in Colombia is roughly 160 percent of GDP for pensions and about 97 percent of GDP for the health system …
Persistent link: https://www.econbiz.de/10012677742
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Fiscal policy and the real exchange rate
Chatterjee, Santanu; Mursagulov, Azer - 2012
Government spending on infrastructure has recently increased sharply in many emerging-market economies. This paper examines the mechanism through which public infrastructure spending affects the dynamics of the real exchange rate. Using a two-sector dependent open economy model with...
Persistent link: https://www.econbiz.de/10009572527
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Fiscal foresight and information flows
Leeper, Eric M.; Walker, Todd B.; Yang, Shu-Chun S. - 2012
News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading...
Persistent link: https://www.econbiz.de/10009618558
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What determines government spending multipliers?
Corsetti, Giancarlo; Meier, André; Müller, Gernot J. - 2012
This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...
Persistent link: https://www.econbiz.de/10009618568
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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
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Fiscal rules in response to the crisis : toward the “next-generation” rules ; a new dataset
Schächter, Andrea; Kinda, Tidiane; Budina, Nina; … - 2012
Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - covering national and supranational fiscal rules, in 81 countries from 1985 to...
Persistent link: https://www.econbiz.de/10009620970
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Fiscal rules at a glance : country details from a new dataset
Budina, Nina; Kinda, Tidiane; Schächter, Andrea; … - 2012
This paper provides country-specific information on fiscal rules in use in 81 countries from 1985 to end-September 2012. It serves as background material and update of the July 2012 Working Paper ?Fiscal Rules in Response to the Crisis?Toward the ?Next Generation' Rules: A New Dataset? and is...
Persistent link: https://www.econbiz.de/10009678999