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Recoveries in the Middle East, North Africa, and Pakistan : Have Macroeconomic Policies Been Effective?
Grigoli, Francesco - 2010
This paper identifies and documents the properties of output gap recessions and recoveries in the Middle East, North … Africa, and Pakistan (MENAP) during the 1980 to 2008 period. It goes on to investigate the key determinants of the recoveries …. The duration of MENAP countries’ recessions and recoveries has increased from the 1990s to the 2000s. MENAP hydrocarbon …
Persistent link: https://www.econbiz.de/10014402721
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Fiscal Policy and Growth in the Middle East and North Africa Region
Eken, Sena - 1997
Establishing a policy framework to sustain high rates of growth is a major challenge facing the economies of the Middle East and North Africa. Given the strikingly dominant role of governments in these economies, this paper focuses on the contribution of fiscal consolidation and reform toward...
Persistent link: https://www.econbiz.de/10014403295
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What do we talk about when we talk about output gaps?
Barkema, Jelle; Gudmundsson, Tryggvi; Mrkaic, Mico - 2020
Estimates of output gaps continue to play a key role in assessments of the stance of business cycles. This paper uses three approaches to examine the historical record of output gap measurements and their use in surveillance within the IMF. Firstly, the historical record of global output gap...
Persistent link: https://www.econbiz.de/10012392643
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The negative mean output gap
Aiyar, Shekhar; Voigts, Simon - 2019
because they assume a zero mean. The bias is especially large in deep recessions when potential output tends to be most …
Persistent link: https://www.econbiz.de/10012103632
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How informative are real time output gap estimates in Europe?
Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019
. Most of the mis-measurement in real time can be explained by the difficulty in predicting recessions and by overestimation …
Persistent link: https://www.econbiz.de/10012103755
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Fiscal Determinants of Inflation : A Primer for the Middle East and North Africa
Söderling, Ludvig - 2006
Many countries in the Middle East and North Africa (MENA) region have recently experienced surges in money growth that apparently have not generated significant inflationary pressures. Moreover, several MENA countries have followed monetary policy rules that according to standard monetary theory...
Persistent link: https://www.econbiz.de/10014402293
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The Cyclicality of Fiscal Policy in the Middle East and Central Asia:Is the Current Crisis Different?
International Monetary Fund - 2010
The countries of the Middle East and North Africa, and the Caucasus and Central Asia have the highest output volatility in the world. Fiscal policy is a powerful tool that can help dampen the business cycles. This paper analyzes the cyclical properties of fiscal policy in the region during the...
Persistent link: https://www.econbiz.de/10014402817
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How to deal with real estate booms : lessons from country experiences
Crowe, Christopher; Dell'Ariccia, Giovanni; Igan, Deniz; … - 2011
Persistent link: https://www.econbiz.de/10009486298
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Sovereign risk, fiscal policy, and macroeconomic stability
Corsetti, Giancarlo; Küster, Keith; Meier, André; … - 2012
Persistent link: https://www.econbiz.de/10009488220
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Macrofinancial analysis in the world economy : a panel dynamic stochastic general equilibrium approach
Vitek, Francis - 2015
This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover...
Persistent link: https://www.econbiz.de/10011408247