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Price Imputation and Other Techniques for Dealing with Missing Observations, Seasonality and Quality Change in Price Indices
Armknecht, Paul A. - 1999
Price index compilers frequently face situations where price observations are missing due to seasonal unavailability … indices. This paper presents statistical imputation techniques that index compilers can use to prevent bias and suggests the …
Persistent link: https://www.econbiz.de/10014400856
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A New Index of Currency Mismatch and Systemic Risk
Rancière, Romain - 2010
This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the...
Persistent link: https://www.econbiz.de/10014402704
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Corruption, Public Investment, and Growth
Tanzi, Vito - 1997
Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i)...
Persistent link: https://www.econbiz.de/10014401205
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An Index Number Formula Problem : The Aggregation of Broadly Comparable items
Silver, Mick S. - 2009
Index number theory informs us that if data on matched prices and quantities are available, a superlative index number … formula is best to aggregate heterogeneous items, and a unit value index to aggregate homogeneous ones. The formulas can give … as to why such formulas differ and proposes a solution to this index number problem …
Persistent link: https://www.econbiz.de/10014404313
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Index Number Biases During Price Liberalization
Osband, Kent - 1991
When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. In part the overstatement stems from neglect of private sector activity, or from belated...
Persistent link: https://www.econbiz.de/10014398096
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Assessing Fiscal Sustainability Under Uncertainity
Barnhill, Theodore M. - 2003
Unlike conventional fiscal sustainability assessments, the Value-at-Risk approach developed in this paper explicitly captures the contribution of key risk variables to public sector vulnerability. In an illustrative application to Ecuador, the VaR approach confirms a significant risk of...
Persistent link: https://www.econbiz.de/10014403838
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Fiscal Sustainability in Remittance-Dependent Economies
Chami, Ralph - 2009
We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a more accurate representation of debt sustainability for a country that receives significant remittance inflows. The main result is that inclusion of...
Persistent link: https://www.econbiz.de/10014402461
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Fiscal Sustainability with Non-Renewable Resources
Chalk, Nigel Andrew - 1998
This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural weaknesses in the underlying budgetary position, takes into account the rate of...
Persistent link: https://www.econbiz.de/10014400777
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Sustainable Plans and Mutual Default
Chari, Varadarajan V. - 1990
This paper presents a model of optimal taxation in which both private agents and the government can default on their debt. We first consider Ramsey equilibria in which the government can precommit to its policies but in which private agents can default. We then consider sustainable equilibria in...
Persistent link: https://www.econbiz.de/10014396002
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Public Debt Sustainability and Management in a Compound Option Framework
Chan-Lau, Jorge A. - 2010
This paper introduces the Asset and Liability Management (ALM) compound option model. The model builds on the observation that the public sector net worth in a multi-period setting corresponds to the value of an option on an option on total government assets. Hence, the ALM compound option model...
Persistent link: https://www.econbiz.de/10014404316