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r-g<0 : can we sleep more soundly?
Mauro, Paolo; Zhou, Jing - 2020
Contrary to the traditional assumption of interest rates on government debt exceeding economic growth, negative interest-growth differentials have become prevalent since the global financial crisis. As these differentials are a key determinant of public debt dynamics, can we sleep more soundly,...
Persistent link: https://www.econbiz.de/10012251299
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Trade and Industrialization in Developing Agricultural Economies
Vamvakidis, Athanasios - 1999
This paper examines the impact of international trade on industrialization in developing agricultural economies. The findings show that developing agricultural economies that increased their openness during 1970-95 experienced an increase in their share of industrial production at the expense of...
Persistent link: https://www.econbiz.de/10014400546
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Financial Repression and Exchange Rate Management in Developing Countries : Theory and Empirical Evidence for India
Kohli, Renu - 2001
instruments of financial repression may be used for exchange rate management. The model is compared to the experience of India, a …
Persistent link: https://www.econbiz.de/10014400683
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Modeling and Forecasting Inflation in India
Callen, Tim - 1999
The Reserve Bank of India (RBI) has moved away from a broad money target toward a “multiple indicators” approach to the …
Persistent link: https://www.econbiz.de/10014400729
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Tax Smoothing in a Financially Repressed Economy : Evidence From India
Cashin, Paul - 1998
India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit … 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the … regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which …
Persistent link: https://www.econbiz.de/10014401306
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A Framework for Assessing Fiscal Sustainability and External Viability, with An Application to India
Parker, Karen Elizabeth - 1993
reform on fiscal and external performance. The model is applied to India to illustrate the types of simulations that may be …
Persistent link: https://www.econbiz.de/10014398059
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A global projection model for euro area large economies
Jakab, M. Zoltán; Lukyantsau, Pavel; Wang, Shengzu - 2015
The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because...
Persistent link: https://www.econbiz.de/10011281922
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Financial and business cycles in Brazil
Krznar, Ivo; Matheson, Troy - 2017
This paper explores the nexus between the financial cycle and business cycle in Brazil. Cycles are estimated using a variety of commonly-used statistical methods and with a small, semistructural model of the Brazilian economy. An advantage of using the model-based approach is that financial and...
Persistent link: https://www.econbiz.de/10011716460
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A model to assess the probabilities of growth, fiscal, and financial crises
Basu, Suman S.; Chamon, Marcos; Crowe, Christopher - 2017
This paper summarizes a suite of early warning models to assess the probabilities of growth, fiscal, and financial crises in advanced economies and emerging markets. We estimate separate signal-extraction models for each type of crisis and sample of countries, and we use our results to generate...
Persistent link: https://www.econbiz.de/10011809589
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Estimation and out-of-sample prediction of sudden stops : do regions of emerging markets behave differently from each other?
Comelli, Fabio - 2015
We identify episodes of sudden stops in emerging economies and estimate the probability to observe them. Sudden stops are more likely when global growth falters, risk aversion in financial markets rises, and vulnerabilities in the external and financial sectors increase. However, the...
Persistent link: https://www.econbiz.de/10011374759