This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The paper uses these results to estimate a New Keynesian Phillips curve for Armenia,...

Armenia has commenced a robust recovery from the deep 2020 recession, benefiting from strong policies and the lifting of the political uncertainty after the elections in June. A gradual but uneven improvement in the pandemic situation, pent-up demand, and the strengthening of public and private...

This paper examines the evolution, and impact on stabilization, of macroeconomic policies in Armenia during 1994-96. Fiscal and monetary policies have been effective in stabilizing the Armenian economy and facilitating significant growth, although they have not always worked in cohort....

This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The paper uses these results to estimate a New Keynesian Phillips curve for Armenia,...

The objective of this paper is to provide practical recommendations for improving the effectiveness of the public financial management system as inputs to the envisaged Armenian public financial management (PFM) reform strategy. The paper aims at providing a comprehensive analysis of most of the...

The objective of this paper is to provide practical recommendations for improving the effectiveness of the public financial management system as inputs to the envisaged Armenian public financial management (PFM) reform strategy. The paper aims at providing a comprehensive analysis of most of the...

The Armenian economy has been growing strongly in recent years. The country has successfully implemented a comprehensive stabilisation and a structural reform program in energy sector. Although now Armenia almost completely depends on imported energy. The most domestically produced primary...