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Assessment of the impact of fiscal policy on the current account : the twin deficit hypothesis in the case of Macedonian economy
Stojcevska, Vesna; Miteski, Mite - Narodna Banka na Republika Makedonija - 2016
For a small open economy with fixed exchange rate regime, the twin deficit hypothesis is always an interesting and relevant research topic. The aim of this research is to evaluate the effects of the government budget shocks on the current account movement in the case of the Macedonian economy,...
Persistent link: https://www.econbiz.de/10011623579
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Exchange Rate Misalignments and Crises
Stein, Jerome L.; Paladino, Giovanna - 2021
productivity of the economy. Trends in social consumption/GDP, and in fiscal policy, reflected political regime changes in France …
Persistent link: https://www.econbiz.de/10013320946
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Monopsony makes firms not only small but also unproductive : why East Germany has not converged
Bachmann, Ruediger; Bayer, Christian; Stüber, Heiko; … - 2022
adverse consequences for aggregate labor productivity. Using high-quality administrative data from Germany, we document that … data predicts 10 percent lower aggregate labor productivity in East Germany. …
Persistent link: https://www.econbiz.de/10013198922
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Monopsony makes firms not only small but also unproductive : why East-Germany has not converged
Bachmann, Ruediger; Bayer, Christian; Stüber, Heiko; … - 2022
adverse consequences for aggregate labor productivity. Using high-quality administrative data from Germany, we document that … data predicts 10 percent lower aggregate labor productivity in East Germany. …
Persistent link: https://www.econbiz.de/10013201697
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Aggregate properties of open economy models with expanding varieties
Bhattarai, Saroj; Kucheryavyy, Konstantin - 2022
We present a unified dynamic framework to study the interconnections between international trade and business cycle models. We prove an aggregate equivalence between a competitive, representative firm model that has aggregate production externalities and dynamic trade models that feature...
Persistent link: https://www.econbiz.de/10013332104
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The price-price Phillips curve in small open economies and monetary unions : theory and empirics
Vaona, Andrea - 2014
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010238840
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The Effects of Australia's Fiscal Policy Shocks – A VAR Approach
Son, Nguyen - 2012
levels, inflation and interest rate; and (ii) interestingly, an increase in the government spending is not always offset by …
Persistent link: https://www.econbiz.de/10013097912
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Identifying shocks via time-varying volatility
Lewis, Daniel J. - 2018
An n-variable structural vector auto-regression (SVAR) can be identified (up to shock order) from the evolution of the residual covariance across time if the structural shocks exhibit heteroskedasticity (Rigobon (2003), Sentana and Fiorentini (2001)). However, the path of residual covariances is...
Persistent link: https://www.econbiz.de/10011926201
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Has Inflation Targeting Strategy Made A Difference in Ghanaian Macroeconomic Management? Analysis of Business Cycle Fluctuations and Econometric Estimates
Akosah, Nana Kwame; Paul Alagidede, Imhotep; Schaling, Eric - 2020
For over a decade of practicing inflation targeting (IT) strategy, inflation has remained high and persistent while … management in Ghana by reducing average inflation rate, boosting average growth rate and dampening the cyclical oscillations in … both output and inflation. We however find a slower pace of disinflation in Ghana, underpinning the high inflation inertia …
Persistent link: https://www.econbiz.de/10014093032
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A Taylor rule for fiscal policy in a fixed exchange rate regime
Pedersen, Jesper; Ravn, Søren Hove - 2014
in output and inflation. However, we find that fiscal policy had the 'wrong sign' in the years leading up to the recent …
Persistent link: https://www.econbiz.de/10010371427