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Globalization, markups and the natural rate of interest
Natal, Jean-Marc; Stoffels, Nicolas - Schweizerische Nationalbank (SNB) - 2007
propositions: 1) Globalization - via the impplied variation in markups - has a potentially significant impact on the natural rate …In this paper, we investigate how, in a stylised theoretical framework, an increase in the degree of globalization … - modelled as a deline in trade costs - affects the real natural rate of interest by impacting firms markups. Outlining a two …
Persistent link: https://www.econbiz.de/10005091307
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Effects of the M&A Wave in the Global Brewing Industry 2000-2010
Madsen, Erik S.; Pedersen, Kurt; Lund-Thomsen, Lars - In: Journal of International Agricultural Trade and Development 61 (2012) 4
unterstützen die aus der Literatur der industriellen Organisation bekannte Marktmacht-Hypothese. …
Persistent link: https://www.econbiz.de/10011250308
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Estimation of a Time Varying Natural Interest Rate for Peru
Humala, Alberto; Rodríguez, Gabriel - Banco Central de Reserva del Perú - 2009
Following the approach of Mésonnier and Renne (2007), we estimate a Natural Rate of Interest (NRI) using quarterly Peruvian data for the period 1996:3 - 2008:3. The model has six equations and it is estimated using the Kalman filter with output gap and NRI as unobservable variables. Estimation...
Persistent link: https://www.econbiz.de/10005056574
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Republic of Poland; Selected Issues
International Monetary Fund (IMF); International … - 2008
This paper provides three policy lessons to take full advantage of the opportunity afforded by EU funds. The main features of the global integrated monetary and fiscal (GIMF) model and how it was modified to account for income convergence are discussed. The impact of EU funds as exhibited in the...
Persistent link: https://www.econbiz.de/10011244276
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Indonesia; Selected Issues
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper for Indonesia uses a small structural macroeconomics model of the Indonesian economy to analyze the inflation outlook and monetary policy challenges. The Bank of Indonesia (BI) introduced its Inflation Targeting Framework in July 2005 with the goal to reduce inflation...
Persistent link: https://www.econbiz.de/10011244290
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Iceland; 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2007
This 2007 Article IV Consultation highlights that boom in private consumption in Iceland was facilitated by easing household credit conditions, tax cuts, rapidly rising housing and equity wealth, and an appreciating real exchange rate. As a result, the output gap peaked at over 5 percent in...
Persistent link: https://www.econbiz.de/10011244341
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Chile; Selected Issues Paper
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper examines the acceleration of inflation over the past year in Chile, identifying domestic shocks to food and energy prices as main drivers. The paper uses the Jeanne-Rancière model to calculate Chile’s optimal ratio of international reserves to GDP. It analyzes the...
Persistent link: https://www.econbiz.de/10011244342
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Lebanon; Use of Fund Resources: Request for Emergency Post-Conflict Assistance: Staff Report; and Press Release on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2008
The Lebanese authorities have requested follow-up Emergency Post-Conflict Assistance with an access of 12.5 percent of quota to support their economic program. The 2006 war with Israel led to a political stalemate and repeated outbreaks of domestic fighting until the formation of a national...
Persistent link: https://www.econbiz.de/10011244535
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Nigeria; Selected Issues
International Monetary Fund (IMF); International … - 2008
This paper presents a simple structural model of inflation adapted for Nigeria based on the methodology of Berg, Karam, and Laxton. This approach allows different policy options to be considered systematically in a baseline forecasting exercise. The development and calibration of this model are...
Persistent link: https://www.econbiz.de/10011244544
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Uruguay; 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Urugu...
International Monetary Fund (IMF); International … - 2009
Uruguay has consolidated economic gains, supported by strong macroeconomic policies and a broadly favorable external environment. Growth has exceeded expectations, unemployment has reached record lows, and poverty has continued to fall, while economic vulnerabilities have been significantly...
Persistent link: https://www.econbiz.de/10011244582