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Appropriate macroeconomic policies for Nigeria's economic growth, 1981-2010: an econometric analysis
Tombofa, Steve S.; Obudah, Bodiseowei C. - In: African Journal of Economic and Sustainable Development 3 (2014) 3, pp. 200-214
Policymakers in Nigeria are aware of the importance of sustained economic growth as a macroeconomic policy. The paper is aimed at examining the effects of stabilisation policy instruments on economic growth. We used modern econometric techniques and the empirical results based on annual data...
Persistent link: https://www.econbiz.de/10010944903
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ifo Konjunkturprognose 2003/2004: Erholung erst im nächsten Jahr
Nierhaus, Wolfgang; Hahn, Elke; Kuntze, Oscar-Erich; … - In: Ifo Schnelldienst 56 (2003) 13, pp. 13-38
fallen nach und nach weg; die überall deutlich expansive Geldpolitik kann damit ihre stimulierende Wirkung stärker entfalten …. Auch in Deutschland lassen die allmähliche Besserung des internationalen konjunkturellen Umfelds und auch die Meldungen der …) steigen; im nächsten Jahr ist das Minus auf 70 Mrd. q (3,2% des BIP) zu veranschlagen. Deutschland verfehlt damit in beiden …
Persistent link: https://www.econbiz.de/10005013285
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Monetary Policy Frameworks in Asia: Experience, Lessons, and Issues
Morgan, Peter J. - Asian Development Bank Institute, Asian Development Bank - 2013
This paper reviews the history of East Asian monetary policy frameworks since 1990; describes current monetary policy frameworks, including issue of price versus financial stability for a central bank and the policies a central bank can use to manage financial stability; the monetary policy...
Persistent link: https://www.econbiz.de/10010991109
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Interest Rates and Business Cycles in Emerging Economies: The Role of Financial Frictions
FERNÁNDEZ MARTIN, ANDRÉS; Gulan, Adam - Inter-American Development Bank - 2012
Countercyclical country interest rates have been shown to be both a distinctive characteristic and an important driving force of business cycles in emerging market economies. In order to account for this, most business cycle models of emerging market economies have relied on ad hoc and exogenous...
Persistent link: https://www.econbiz.de/10010944308
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Empirical analysis of monetary policy reaction function in an emerging African market economy
Were, Maureen - In: International Journal of Economics and Business Research 8 (2014) 3, pp. 340-353
The paper analyses monetary policy reaction function for Kenya using quarterly data for the period 1999 to 2011. The empirical results show a strong effect of interest rate smoothing and support the fact that monetary policy was accommodative of the output growth objective. The response to...
Persistent link: https://www.econbiz.de/10010944855
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The Role of Monetary Policy in Turkey during the Global Financial Crisis (Kuresel Kriz Doneminde Turkiye'de Para Politikasinin Rolu)
Alp, Harun; Elekdag, Selim - Türkiye Cumhuriyet Merkez Bankası - 2011
As an emerging economy, Turkey is an interesting case study because it was one of the hardest hit countries by the crisis, with a year-over-year contraction of 15 percent during the first quarter of 2009. At the same time, anticipating the fallout from the crisis, the Central Bank of the...
Persistent link: https://www.econbiz.de/10009209841
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Monetary and Fiscal Policy in a DSGE Model of India.
Levine, Paul; Pearlman, Joseph - 2011
We develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explict target for inflation, and a mechanism than ensures a stable government debt-GDP ratio around a specified long run. We show how such...
Persistent link: https://www.econbiz.de/10009391675
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Policy Response to External Shocks: Lessons from the Crisis
Capistrán, Carlos; Cuadra, Gabriel; Francia, Manuel Ramos - Banco de México - 2011
Emerging economies have been subject to abrupt reversals in capital inflows, which have adverse consequences for economic activity and financial stability. An important question for policymakers is how to respond to a sudden loss of external financing and its negative effects on the domestic...
Persistent link: https://www.econbiz.de/10009366402
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Policy focus: Monetary policy in an uncertain world: probability models and the design of robust monetary rules
Levine, Paul - In: Indian Growth and Development Review 5 (2012) 1, pp. 70-88
Purpose – The purpose of this paper is to describe the transformation of macro-modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...
Persistent link: https://www.econbiz.de/10010551606
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Monetary Space in Latin America: A Criterion to Regime Selection
Corso, Eduardo Ariel - In: Ensayos Económicos 1 (2007) 48, pp. 111-144
This paper deals with a theoretical and empirical approach to analyze the selection of exchange rate/monetary regimes in emerging economies based on the “monetary space”, i.e. the framework where monetary policy should be developed. In turn, the monetary space was defined on the basis of...
Persistent link: https://www.econbiz.de/10010551955