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Trade Shocks and Macroeconomic Fluctuations in Africa
Kose, M. Ayhan; Riezman, Raymond Glenn - 2021
This paper examines the role of external shocks in explaining macroeconomic fluctuations in African countries. We construct a quantitative, stochastic, dynamic, multi-sector equilibrium model of a small open economy calibrated to represent a typical African economy. In our framework, external...
Persistent link: https://www.econbiz.de/10013321425
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Aid, political business cycles and growth in Africa
Chiripanhura, Blessing M.; Niño-Zarazúa, Miguel - 2014
and/or monetary stimuli to foster economic growth and thus, maximize the probability of re-election. Using a panel dataset … have an effect on growth. We find evidence to support the most recent studies showing that aid has a positive impact on … growth. We however, do not find evidence to support the proposition that institutional quality is a sine qua non conditional …
Persistent link: https://www.econbiz.de/10010425074
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An Estimated Small Open Economy Model with Labour Market Frictions
Sheen, Jeffrey - 2013
We estimate small open economy models with involuntary unemployment using Australian data from 1993 to 2007, focusing on hiring costs and real wage rigidity. We find a strong preference for models with hiring costs, which account for 0.97% of GDP. The data favor models with real over nominal...
Persistent link: https://www.econbiz.de/10013087292
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Two-country new Keynesian DSGE model : a small open economy as a limit case
Silveira, Marcos Antonio Coutinho da - 2015
We build a two-country version of the model in Gali & Monacelli (2005), which extends for a small open economy the new Keynesain DSGE model used as tool for monetary policy analysis in closed economies. A distinctive feature of the model is that the terms of trade enters directly into the new...
Persistent link: https://www.econbiz.de/10012038711
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A small open economy as a limit case of a two-country new Keynesian DSGE model : a Bayesian estimation with Brazilian data
Silveira, Marcos Antonio Coutinho da - 2015
We build a two-country version of the DSGE model in Gali & Monacelli (2005), which extends for a small open economy the new Keynesain model used as tool for monetary policy analysis in closed economies. A distinctive feature of the model is that the terms of trade enters directly into the new...
Persistent link: https://www.econbiz.de/10012053264
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Low pass-through and high spillovers in NOEM: what does help and what does not
De Walque, Gregory; Lejeune, Thomas; Rannenberg, Ansgar; … - 2020
This paper jointly analyses two major challenges of the canonical NOEM model: i) combining a relatively important exchange rate pass-through at the border with low pass-through at the consumer level, and ii) generating significant endogenous international business cycle synchronization. These...
Persistent link: https://www.econbiz.de/10012243783
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Business cycle volatility in Germany
Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian - 2002
Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural breaks in the dynamics and the volatility of the...
Persistent link: https://www.econbiz.de/10011475861
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EU immigration has increased Germany's economic browth
Clemens, Marius; Hart, Janine - In: DIW weekly report : economy, politics, science : a … 8 (2018) 44, pp. 441-449
simulations show that GDP growth in Germany between 2011 and 2016 would have been 0.2 percentage points lower on average per year …
Persistent link: https://www.econbiz.de/10011927693
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Business Cycle Volatility in Germany
Buch, Claudia M.; Doepke, Joerg; Pierdzioch, Christian - 2002
Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural breaks in the dynamics and the volatility of the...
Persistent link: https://www.econbiz.de/10010260526
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Business cycle volatility in Germany
Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian - 2002
Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural breaks in the dynamics and the volatility of the...
Persistent link: https://www.econbiz.de/10001712118