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Vor gut zwei Jahren hat die Türkei ein Stabilisierungsprogramm aufgelegt, das vor allem eine Senkung der sehr hohen Inflation zum Ziel hatte; vom Internationalen Währungsfonds (IWF) wurde es durch ein Beistandsabkommen finanziell unterstützt. Wegen erheblicher Probleme bei der Umsetzung des...
Persistent link: https://www.econbiz.de/10011601331
We study the joint dynamics of macroeconomic variables, bond yields, and the exchange rate in an empirical two-country New-Keynesian model complemented with a no-arbitrage term structure model. With Canadian and US data, we are able to study the impact of macroeconomic shocks from both countries...
Persistent link: https://www.econbiz.de/10010279943
This study examines the effect of non-farm labour participation on poverty reduction in rural Mauritania. Farm … in the reduction of poverty in the rural areas of Mauritania. We apply probit, propensity score matching and inverse …
Persistent link: https://www.econbiz.de/10012620990
Over the last five years, Africa's MSGBC geological basin situated in five African countries: Mauritania, Senegal … (IOCs). The Grand Tortue Ahmeyim (GTA) gas field development project, overlapping Mauritania and Senegal's offshore waters … also for the domestic energy markets of Mauritania and Senegal. Due to the Covid-19 pandemic, the commissioning of the …
Persistent link: https://www.econbiz.de/10012663572
the development trajectories of Mauritania, Kenya and Mozambique. It argues that successful aid deployment requires …
Persistent link: https://www.econbiz.de/10010284667
This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...
Persistent link: https://www.econbiz.de/10010261130
A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...
Persistent link: https://www.econbiz.de/10010276227
We investigate the macroeconomic determinants of corporate spreads using a no-arbitrage technique. Structural shocks are identified by a New-Keynesian model. Treasury bonds are priced in an affine model with time-varying risk premia. Corporate bonds are priced in a reduced-form credit risk model...
Persistent link: https://www.econbiz.de/10010279950
Using a rich sample of Canadian government securities auctions, we estimate the structural parameters of a share-auction model accounting for asymmetries across bidders. We find little evidence of asymmetries between participants at Canadian government nominal bond auctions. A counter-factual...
Persistent link: https://www.econbiz.de/10010280052
This paper analyses the history and effectiveness of the two major mechanisms of resolution of balance of payments crisis. It argues that IMF lending has met its counter-cyclical objectives through history and has been improving in terms of providing adequate lending facilities as well as...
Persistent link: https://www.econbiz.de/10011418652