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Dynamic Responses to Policy and Exogenous Shocks in an Empirical Developing-Country Model with Rational Expectations

International Monetary Fund - 1990

The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country...

Persistent link: https://www.econbiz.de/10014396467

Pensions, Price Shocks, and Macroeconomic Stability in Transition Economies : Illustrations From Belarus

Lugaresi, Sergio - 1994

In many countries of the former Soviet Union, pensioners form a large and vulnerable group of the population, with pensions fixed in nominal terms. Attempts to “protect” this group have included a revaluation of benefits for retirees and the introduction of indexation arrangements based on...

Persistent link: https://www.econbiz.de/10014398090

Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase

Thode, Eric - 1999

EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in...

Persistent link: https://www.econbiz.de/10014401049

Investment : Specific Technology Shocks and International Business Cycles: An Empirical Assessment

International Monetary Fund - 2010

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international … the relative price of investment to build and estimate these IST processes across the U.S and a ""rest of the world …

Persistent link: https://www.econbiz.de/10014397271

Crowding-out or crowding-in? : public and private investment in India

Bahal, Girish; Raissi, Mehdi; Tulin, Volodymyr - 2015

This paper contributes to the debate on the relationship between public-capital accumulation and private investment in … the past three decades, we study whether public investment in recent years has become more or less complementary to … private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate …

Persistent link: https://www.econbiz.de/10011445833

Leverage shocks : firm-level evidence on debt overhang and investment

Cevik, Serhan; Miryugin, Fedor - 2020

-pronged approach to investigate the relationship between corporate leverage and fixed investment spending. The empirical analysis …

Persistent link: https://www.econbiz.de/10012486107

Financial crises, investment slumps, and slow recoveries

Cerra, Valerie; Hakamada, Mai; Lama C., Ruy - 2021

particular focus on the role played by financial frictions and investment dynamics. The paper provides two main contributions …. First, we empirically document that lower investment during financial crises is the key factor leading to permanent loss of …

Persistent link: https://www.econbiz.de/10012610732

Accounting for Global Dispersion of Current Accounts

Lee, Jaewoo - 2009

We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the stochastic stationary equilibrium of the...

Persistent link: https://www.econbiz.de/10014402560

Fiscal Adjustment and Income Inequality : Sub-national Evidence from Brazil

Azevedo, João Pedro - 2014

We combine state-level fiscal data with household survey data to assess the links between sub-national fiscal policy and income inequality in Brazil over the period 1995-2011. The results indicate that a tighter fiscal stance at the sub-national level is not associated with a deterioration in...

Persistent link: https://www.econbiz.de/10014411340

Global Imbalances and External Adjustment after the Crisis

Lane, Philip R. - 2014

This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both “flow” and “stock” imbalances), with a special focus on the shifting position of Latin America in the global distribution. Second, it examines the cross-country variation in external...

Persistent link: https://www.econbiz.de/10014411435