This paper compares the output gap estimates for Mongolia based on a number of different methods. Special attention is paid to the substantial role of mining in the Mongolian economy. We find that a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of...

This paper compares the output gap estimates based on a number of different methods. We take advantage of the unique properties of the Mongolian economy in order to evaluate the different approaches. We find that an economic measure derived from a Blanchard and Quah-type joint model of output...

This paper compares the output gap estimates for Mongolia based on a number of different methods. Special attention is paid to the substantial role of mining in the Mongolian economy. We find that a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of...

Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising given Mongolia’s geography, are determined...

Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising given Mongolia’s geography, are determined primarily...

The effects of public debt on economic growth are analyzed in an augmented neoclassical growth model with AK-technology. The objective of the government is a fixed deficit ratio and in the long run a constant debt ratio. Then there is a critical deficit ratio and if the deficit ratio falls below...

Die Auswirkungen einer staatlichen Verschuldung auf das Wirtschaftswachstum werden im Rahmen eines erweiterten neoklassischen Wachstumsmodells mit AK-Technologie analysiert. Der Staat verfolgt das Ziel einer festen Defizitquote und einer langfristig konstanten Schuldenquote. In diesem Fall gibt...

We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...