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Business cycles and monetary regimes in emerging economies: A role for a monopolistic banking sector
Mandelman, Federico S. - 2009
This study shows that the presence of imperfect competition in the banking system propagates external shocks and amplifies the business cycle. Strategic limit pricing, aimed at protecting retail niches from potential competitors, generates countercyclical bank markups. Markup increments during...
Persistent link: https://www.econbiz.de/10010292237
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The World Is Not Enough! Small Open Economies and Regional Dependence
Aastveit, Knut Are; Bjørnland, Hilde C.; Thorsrud, … - 2011
This paper bridges the new open economy factor augmented VAR (FAVAR) studies with the recent findings in the business cycle synchronization literature emphasizing the importance of regional factors. That is, we estimate and identify a three block FAVAR model with separate world, regional and...
Persistent link: https://www.econbiz.de/10012143781
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Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies
Bergholt, Drago; Sveen, Tommy - 2014
Existing DSGE models are not able to reproduce the observed influence of international business cycles on small open economies. We construct a two-sector New Keynesian model to address this puzzle. The set-up takes into account intermediate trade and producer heterogeneity, where goods and...
Persistent link: https://www.econbiz.de/10012143842
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Transmission of Business Cycle Shocks between Unequal Neighbours: Germany and Austria
Fenz, Gerhard; Schneider, Martin - 2007
This paper analyses the comovement of the German and Austrian economies and the transmission of German shocks to Austria. Static and dynamic correlation measures show a strong comovement and a change of the relative position in time of these two economies. The transmission of German shocks to...
Persistent link: https://www.econbiz.de/10013370054
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Developing country business cycles: Revisiting the stylised facts
Male, Rachel - 2010
Identifying business cycle stylised facts is essential as these often form the basis for the construction and validation of theoretical business cycle models. Furthermore, understanding the cyclical patterns in economic activity, and their causes, is important to the decisions of both...
Persistent link: https://www.econbiz.de/10010280739
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Booms and busts in Latin America: The role of external factors
Izquierdo, Alejandro; Romero, Randall; Talvi, Ernesto - 2008
This paper analyzes the relevance of external factors in average quarterly GDP growth for 1990-2006 in the seven … that those factors account for a significant share of variance in LAC7 GDP growth, and that external shocks produce … significant responses. Likewise, a significant share of recent LAC7 growth performance can be explained by an external factor …
Persistent link: https://www.econbiz.de/10010278267
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Optimal Public Investment in Resource-Rich Low-Income Countries
Algozhina, Aliya - 2020
Recent studies have found that resource-rich low-income countries are better off investing their resource revenues domestically rather than saving them abroad in a sovereign wealth fund (SWF). This paper finds an optimal rule-based policy of accumulating public capital and its associated public...
Persistent link: https://www.econbiz.de/10014547722
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Growth, water resilience, and sustainability: A DSGE model applied to South Africa
Li, Chuan-Zhong; Swain, Ranjula Bali - 2014
growth and dynamic welfare with special reference to South Africa. While water may become a limiting factor for future … development in general, as a drought prone and water poor country with rapid population growth, South Africa may face more serious …
Persistent link: https://www.econbiz.de/10011406157
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Can HIPC Reduce Poverty in Tanzania?
Danielson, Anders - 2001
While growth has increased in Tanzania during the past five or six years, it is still too low to have a visible impact …
Persistent link: https://www.econbiz.de/10013208421
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Growth without Poverty Reduction? Examining Micro-Macro Links in Tanzania
Danielson, Anders - 2004
Studying the relation between economic growth and income poverty reduction without taking changes in the distribution … Shakespeare, this paper examines the relations between poverty levels, economic growth and changes in inequality in Tanzania … during the 1990s. It offers four conclusions. First, the efficiency with which growth reduces poverty increases with a …
Persistent link: https://www.econbiz.de/10013208465