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Monetary Rules for Emerging Market Economies
Rebucci, Alessandro; Ghironi, Fabio - International Monetary Fund (IMF) - 2002
We compare the performance of a currency board, inflation targeting, and dollarization in a small, open developing economy with a liberalized capital account. We focus on the transmission of shocks to currency and country risk premia and on the role of fluctuations in premia in the propagation...
Persistent link: https://www.econbiz.de/10005826178
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Thailand; Selected Issues
International Monetary Fund (IMF); International … - 2008
To estimate the New Keynesian model, we use four key macroeconomic series for Thailand. The priors are chosen to reflect general considerations of the appropriate model dynamics and our judgment about the Thai economy. The model is solved initially so that the baseline forecast replicates staff...
Persistent link: https://www.econbiz.de/10011242710
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Reviving the Competitive Storage Model; A Holistic Approach to Food Commodity Prices
Funke, Norbert; Wu, Weifeng; Miao, Yanliang - International Monetary Fund (IMF) - 2011
We revive in this paper the empirical relevance of the competitive storage model by taking a holistic approach to food commodity prices. We augment the seminal Deaton and Laroque (1992, 1996) model by incorporating more comprehensive and realistic supply and demand factors: output and demand...
Persistent link: https://www.econbiz.de/10008876584
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Sims, Christopher Albert (born 1942)
Boumans, Marcel - Palgrave Macmillan
Christopher Sims is one of the leaders in time-series econometrics and empirical macroeconomics and is well known for … introducing the VAR approach to econometrics and macroeconomic modelling. Sims' main contribution to empirical macroeconomics was … imply the abandoning of theory but only the involvement of theory that is ‘as light as possible.’ It shifted the focus …
Persistent link: https://www.econbiz.de/10011141077
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NO CHAPTER AVAILABLE YET Book Title: Rational Expectations and Inflation (Third Edition)
Sargent, Thomas J. - Princeton University Press
available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically …This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan … in economics. Rational expectations theory is based on the simple premise that people will use all the information …
Persistent link: https://www.econbiz.de/10010604618
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Rational Expectations and Inflation (Third Edition)
Sargent, Thomas J. - Princeton University Press
available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically …This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan … in economics. Rational expectations theory is based on the simple premise that people will use all the information …
Persistent link: https://www.econbiz.de/10010681119
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Structural Models in Real Time
Clinton, Kevin; Johnson, Marianne; Benes, Jaromir; … - International Monetary Fund (IMF) - 2010
This paper outlines a simple approach for incorporating extraneous predictions into structural models. The method allows the forecaster to combine predictions derived from any source in a way that is consistent with the underlying structure of the model. The method is flexible enough that...
Persistent link: https://www.econbiz.de/10008519485
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Much Ado About Nothing? Estimating the Impact of a U.S. Slowdownon Thai Growth
Aiyar, Shekhar; Tchakarov, Ivan - International Monetary Fund (IMF) - 2008
External demand was the main driver of growth in Thailand in 2006 and 2007. However, WEO projections indicate moderating foreign demand in 2008, with U.S. growth being revised downwards to reflect the turmoil in housing and credit markets, and high oil prices. While the share of Thai exports to...
Persistent link: https://www.econbiz.de/10005248323
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Sargent, Thomas J. (born 1943)
Sent, Esther-Mirjam - Palgrave Macmillan
Thomas J. Sargent is the 2011 recipient of the Nobel Prize in Economic Sciences (along with Christopher Sims). Sargent has been instrumental in the development of rational expectations economics. The central idea behind this approach is that individuals should not make systematic mistakes. Yet...
Persistent link: https://www.econbiz.de/10010755724
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Can econometric analysis make (agricultural) economics a hard science? Critical remarks and implications for economic methodology
Petrick, Martin - Leibniz-Institut für Agrarentwicklung in … - 2004
) claims to follow and expresses some serious doubt that econometrics in particular can make economics a hard science …
Persistent link: https://www.econbiz.de/10008611538