Narrow search
Showing 1 - 10 of 188
Cover Image
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
Cover Image
Asset Prices in Affine Real Business Cycle Models
Shamloo, Maral; Malkhozov, Aytek - International Monetary Fund (IMF) - 2010
models featuring Epstein-Zin preferences and affine dynamics for productivity growth and volatility. The method relies on log …
Persistent link: https://www.econbiz.de/10008727787
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
Emerging Market Business Cycles; The Role of Labor Market Frictions
Boz, Emine; Durdu, Ceyhun Bora; Li, Nan - International Monetary Fund (IMF) - 2012
Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical...
Persistent link: https://www.econbiz.de/10011242182
Cover Image
Potential Growth in Emerging Asia
Anand, Rahul; Cheng, Kevin C.; Rehman, Sidra; Zhang, Longmei - International Monetary Fund (IMF) - 2014
potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the …
Persistent link: https://www.econbiz.de/10011142066
Cover Image
Aggregate Stability and Balanced-Budget Rules
Ghilardi, Matteo; Rossi, Raffaele - International Monetary Fund (IMF) - 2014
It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule. This paper introduces in an otherwise standard real...
Persistent link: https://www.econbiz.de/10010790380
Cover Image
Hysteresis in Unemployment and Jobless Recoveries
Plotnikov, Dmitry - International Monetary Fund (IMF) - 2014
This paper develops and estimates a general equilibrium rational expectations model with search and multiple equilibria where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate increases for a potentially indefinite period. This...
Persistent link: https://www.econbiz.de/10010790439