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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
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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
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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
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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
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Capital gaps, risk dynamics, and the macroeconomy
Lipinsky, Fabian T.; Miescu, Mirela S. - 2020
Motivated by the increasing interest in analyzing the links between the financial sector and the real economy, we develop a macro-financial structural model with two novel features. First, we include idiosyncratic and aggregate risk in a tractable general equilibrium model. This allows us to...
Persistent link: https://www.econbiz.de/10012391995
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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
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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
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Current account imbalances : can structural policies make a difference?
Ivanova, Anna - 2012
Persistent link: https://www.econbiz.de/10009572505
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The great rebalancing act : can investment be a lever in Asia?
Nabar, Malhar; Syed, Murtaza - 2011
Persistent link: https://www.econbiz.de/10009487108
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Growth in Africa under peace and market reforms
Salinas, Gonzalo; Gueye, Cheikh; Korbut, Olessia - 2011
Persistent link: https://www.econbiz.de/10009487113