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Commodity Price Volatility and the Sources of Growth

International Monetary Fund (IMF); International … - 2012

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …

Persistent link: https://www.econbiz.de/10009650613

Cointegrated TFP Processes and International Business Cycles

Tuesta, Vicente; Rubio-Ramirez, Juan F.; Rabanal, Pau - International Monetary Fund (IMF) - 2009

A puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the "rest of the world," is characterized by a vector error...

Persistent link: https://www.econbiz.de/10008559267

Recent French Export Performance; Is there a Competitiveness Problem?

Kabundi, Alain N.; Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2009

Recently, the export performance of France relative to its own past and relative to a major trading partner, Germany, deteriorated. That deterioration seems related to the geographical destination and product composition of trend exports. Faced with an increase in unit labor costs or in its...

Persistent link: https://www.econbiz.de/10005769088

Economic Integration, Business Cycle, and Productivity in North America

Kose, M. Ayhan; Cardarelli, Roberto - International Monetary Fund (IMF) - 2004

productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement … productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence … of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also …

Persistent link: https://www.econbiz.de/10005769318

Investment; Specific Technology Shocks and International Business Cycles: An Empirical Assessment

International Monetary Fund (IMF); International … - 2010

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement",...

Persistent link: https://www.econbiz.de/10008671290

Business Cycle Accounting for Chile

Söderling, Ludvig; Simonovska, Ina - International Monetary Fund (IMF) - 2008

We investigate sources of economic fluctuations in Chile during 1998-2007 within the framework of a standard neoclassical growth model with time-varying frictions (wedges). We analyze the relative importance of efficiency, labor, investment, and government/trade wedges for business cycles in...

Persistent link: https://www.econbiz.de/10005263664

Do the Gulf Oil-Producing Countries Influence Regional Growth? T+L3886he Impact of Financial and Remittance Flows

Ilahi, Nadeem; Shendy, Riham - International Monetary Fund (IMF) - 2008

This paper tests the association between the Gulf Cooperation Council (GCC) countries' financial and remittance outflows and regional growth in the Middle East. The findings, based on 35-year panel data, indicate that growth rates of real GDP, private consumption and private investment in...

Persistent link: https://www.econbiz.de/10005263780

Business Cycles and Workers' Remittances; How Do Migrant Workers Respond to Cyclical Movements of GDP At Home?

Sayan, Serdar - International Monetary Fund (IMF) - 2006

Workers' remittances are often argued to have a tendency to move countercyclically with the GDP in recipient countries since migrant workers are expected to remit more during down cycles of economic activity back home. Yet, how much to remit is a complex decision involving other factors, and...

Persistent link: https://www.econbiz.de/10005263962

Common Factors in Latin America's Business Cycles

Timmermann, Allan; Catão, Luis; Aiolfi, Marco - International Monetary Fund (IMF) - 2006

This paper constructs new business cycle indices for Argentina, Brazil, Chile, and Mexico based on common dynamic factors extracted from a comprehensive set of sectoral output, external data, and fiscal and financial variables spanning over a century. The constructed indices are used to derive a...

Persistent link: https://www.econbiz.de/10005264082

Growth and Reforms in Latin America; A Survey of Facts and Arguments

Zettelmeyer, Jeromin - International Monetary Fund (IMF) - 2006

This paper presents a number of facts about growth in Latin America, and shows how critical correlates of growth have evolved over time. In comparison with other regions, Latin America has consistently exhibited higher macroeconomic volatility, lower openness, and higher income inequality,...

Persistent link: https://www.econbiz.de/10005264118