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Rethinking Macro Policy II; Getting Granular
Blanchard, Olivier J.; Dell'Ariccia, Giovanni; Mauro, Paolo - International Monetary Fund (IMF) - 2013
This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associated with increased public debt; and the policy potential, risks, and...
Persistent link: https://www.econbiz.de/10011245877
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Hitchhiker’s Guide to Inflation in Libya
Cevik, Serhan; Teksoz, Katerina - International Monetary Fund (IMF) - 2013
This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the … econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play …
Persistent link: https://www.econbiz.de/10011142009
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The Short-Run Macroeconomics of Aid Inflows; Understanding the Interaction of Fiscal and Reserve Policy
Zanna, Luis-Felipe; Berg, Andrew; Mirzoev, Tokhir; … - International Monetary Fund (IMF) - 2010
We develop a tractable open-economy new-Keynesian model with two sectors to analyze the short-term effects of aid-financed fiscal expansions. We distinguish between spending the aid, which is under the control of the fiscal authorities, and absorbing the aid-using the aid to finance a higher...
Persistent link: https://www.econbiz.de/10008470400
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Lao People's Democratic Republic; Staff Report for the 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2012
Against the backdrop of generally sound policies and abundant natural resources, Lao P.D.R. has made impressive progress in developing its economy and reducing poverty. The key challenge going forward is to ensure that economic policy frameworks stay ahead of the curve to achieve sustainable and...
Persistent link: https://www.econbiz.de/10011245701
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The Macroeconomic Effects of Natural Resource Extraction; Applications to Papua New Guinea
Basu, Suman S; Gottschalk, Jan; Schule, Werner; … - International Monetary Fund (IMF) - 2013
To investigate the effects on Papua New Guinea’s economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resource windfall revenues and the implications for a variety of policy responses. The model...
Persistent link: https://www.econbiz.de/10011242363
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Sri Lanka; 2013 Article IV Consultation and Proposal for Post-Program Monitoring
International Monetary Fund (IMF); International … - 2013
The paper discusses the economic developments and policies in Sri Lanka in recent years. Substantial adjustments in energy prices and operational and financial reforms have helped to improve the performance of state owned enterprises (SOEs) and have reduced the burden on the budget and the...
Persistent link: https://www.econbiz.de/10011245489
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Uruguay; 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
bolstering the economy’s resilience to shocks and fostering productivity growth. Inflation is a priority and monetary policy … cannot fight inflation alone; concerted efforts on other fronts are also necessary. Near-term fiscal policy could better …
Persistent link: https://www.econbiz.de/10011245272
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Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model’s...
Persistent link: https://www.econbiz.de/10011242434
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The Benefits of International Policy Coordination Revisited
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas; Muir, Dirk - International Monetary Fund (IMF) - 2013
This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in that, unlike monetary policy, they have long-run effects on the level of GDP that need to be...
Persistent link: https://www.econbiz.de/10011142005
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Russian Federation: 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
, indicating a stronger growth outlook for the second half of 2013. The near-term outlook is for moderate growth and inflation at …
Persistent link: https://www.econbiz.de/10011245332