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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
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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
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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
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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
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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
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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
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Chile; Selected Issues
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...
Persistent link: https://www.econbiz.de/10011243850
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An Optimal Fiscal Policy Rule for the Colombian Economy: A Dynamic Stochastic General Equilibrium Approach
Galvis, Juan; Bedoya, Juan; Loaiza, Ruben - In: Lecturas de Economía (2011) 75, pp. 107-141
This paper seeks to develop an optimal fiscal policy rule for the Colombian economy that interacts with the monetary policy in order to stabilize the product and inflation gap. It proposes a Dynamic Stochastic General Equilibrium model (DSGE) with nominal rigidities and proposes a fiscal rule...
Persistent link: https://www.econbiz.de/10010902352
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Forecasting and policy making
Wieland, Volker; Wolters, Maik Hendrik - House of Finance, Goethe Universität Frankfurt am Main - 2012
Persistent link: https://www.econbiz.de/10010955284
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2005
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...
Persistent link: https://www.econbiz.de/10010955553