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Materials, Capital, Direct/Indirect Substitution and Mass Balance Production Functions
van den Bergh, Jeroen C.J.M. - 1998
dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a … classification is offered of various types of substitutability and complementarity relationships between production factors. It is … argued that the neoclassical production function may be consistent with mass balance, but is unsuitable for a detailed and …
Persistent link: https://www.econbiz.de/10010324469
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Materials, capital, direct/indirect substitution and mass balance production functions
Bergh, Jeroen C. J. M. van den - 1998
dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a … classification is offered of various types of substitutability and complementarity relationships between production factors. It is … argued that the neoclassical production function may be consistent with mass balance, but is unsuitable for a detailed and …
Persistent link: https://www.econbiz.de/10011284067
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Sources of Inflation in Sub-Saharan Africa
Peiris, Shanaka J.; Barnichon, Régis - International Monetary Fund (IMF) - 2007
vectors for the production function and the real money demand function to recover the structural output and money gaps for …
Persistent link: https://www.econbiz.de/10005263752
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Vietnam; Bayesian Estimation of Output Gap
Maliszewski, Wojciech - International Monetary Fund (IMF) - 2010
The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other parameters. Model coefficients are easily interpretable, and the output gap series is...
Persistent link: https://www.econbiz.de/10008560446
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How Different is the Cyclical Behavior of Home Production Across Countries?
Kose, M. Ayhan; Blankenau, William - International Monetary Fund (IMF) - 2006
This paper studies stylized business cycle properties of household production in four industrialized countries (Canada … household production sector. We use the model to generate data on home output, hours worked in the home sector, and hours spent … variables are generally less persistent than market variables, and cross-country correlations related to home production tend to …
Persistent link: https://www.econbiz.de/10005825641
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Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy
Srour, Gabriel - International Monetary Fund (IMF) - 2004
The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...
Persistent link: https://www.econbiz.de/10005825986
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Who is Still Haunted by the Specter of Communism? Explaining Relative Output Contractions Under Transition
Elborgh-Woytek, Katrin; Berengaut, Julian - International Monetary Fund (IMF) - 2005
The paper analyzes the initial output decline in transition economies by estimating a crosssection model stressing two major factors-conflicts and the legacies of the Soviet period. We link the Soviet legacies in place at the outset of the transition to the subsequent path for the development of...
Persistent link: https://www.econbiz.de/10005769029
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On the Pattern of Currency Blocs in Africa
Yehoue, Etienne B. - International Monetary Fund (IMF) - 2005
This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of...
Persistent link: https://www.econbiz.de/10005769051
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On Cyclicality in the Current and Financial Accounts; Evidence From Nine Industrial Countries
Clausen, Jens R.; Kandil, Magda E. - International Monetary Fund (IMF) - 2005
The paper investigates cyclical fluctuations in the current and financial (formerly capital) accounts of the balance of payments and major underlying components for nine industrial countries. The empirical model uses as explanatory variables domestic output growth, price inflation, real exchange...
Persistent link: https://www.econbiz.de/10005769209
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What Causes Firms to Hide Output? the Determinants of Informality
Inchauste, Gabriela; Gradstein, Mark; Dabla-Norris, Era - International Monetary Fund (IMF) - 2005
In many developing countries, a significant part of economic activity takes place in the informal sector. Earlier work has examined the determinants of the size of the informal sector, focusing separately on factors such as tax and regulation burden, financial market development, and the quality...
Persistent link: https://www.econbiz.de/10005769293