Extending the open-economy loanable funds model, this paper finds that more government deficit as a percentage of GDP does not lead to a higher government bond yield. In addition, a higher real Treasury bill rate, a higher expected inflation rate, a higher EU government bond yield, or an...

This study applies the VAR model to find possible responses of real GDP to selected macroeconomic variables in Venezuela. Based on an annual sample during 1961-2001, the author finds that the real GDP responds positively to a shock to real M2 , goverment déficit spending, exchange rate...

Applying an open-economy macroeconomic model, incorporating the monetary policy reaction function and uncovering interest parity, this paper finds that the expected real exchange rate and real output exhibit an inverted J-shape relationship, suggesting that expected real depreciation increases...

This paper uses a VAR model to quantify the relative importance of external debt, exchange rates, monetary policy and other selected variables when explaining output fluctuations in Brazil. Using the money market rate as a policy instrument, impulse response functions indicate that shocks to the...

Applying a general equilibrium approach, this paper examines output fluctuations in Poland and finds that real output is negatively influenced by the deficit/GDP ratio, the euro interest rate, the expected inflation rate, and country risk and positively affected by real quantity of money and...

Extending the Romer (2000) model and the Taylor (1993; 1998; 1999) rule, this paper derives theoretical relationships between equilibrium output in Mexico and a change in the exchange rate, stock values, or the world interest rate. Empirical results show that more deficit spending, higher stock prices,...

The objective of the paper is to examine the impact of higher oil prices on Mexico's real GDP. Applying an open economy model, this paper finds that more money supply, more deficit spending, a higher real stock price, real appreciation of the peso, a lower US interest rate, and a lower expected...

Applying efficiency wage models, this article finds that there is a strong evidence of a negative wage curve for the state of Alabama. The elasticity of the wage curve is estimated to be -0.28, suggesting that the wage rate in Alabama is much more sensitive to a change in the unemployment rate...