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Determinants of Angola's Parallel Market Real Exchange Rate

Determinants of Angola's Parallel Market Real Exchange Rate »

Source: Determinants of Angola's Parallel Market Real Exchange Rate

Volume/Issue: 1999/90

Series: IMF Working Papers

Author(s): Jun Nagayasu , and Enrique Gelbard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

ISBN: 9781451851373

Keywords: real exchange rates, co-integration, exchange rate, real exchange rate, equation, exchange rates, statistics

The paper estimates Angola’s equilibrium parallel market real exchange rate during the 1992–98 period. Using standard integration/co-integration techniques, the results fail to support the purchasing...

Determinants of Inflation, Exchange Rate, and Output in Nigeria

Determinants of Inflation, Exchange Rate, and Output in Nigeria »

Source: Determinants of Inflation, Exchange Rate, and Output in Nigeria

Volume/Issue: 1998/160

Series: IMF Working Papers

Author(s): Louis Kuijs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

ISBN: 9781451981735

Keywords: co-integration, exchange rate, output, foreign exchange, real exchange rate, price level

This paper presents a macroeconomic model of the Nigerian economy. The long-run relationships pertaining to the markets for money, foreign exchange, and (non-oil) output are estimated. Subsequently, dynamic equatio...

Does the Long-Run Ppp Hypothesis Hold for Africa? Evidence From Panel Co-Integration Study

Does the Long-Run Ppp Hypothesis Hold for Africa? Evidence From Panel Co-Integration Study »

Source: Does the Long-Run Ppp Hypothesis Hold for Africa? Evidence From Panel Co-Integration Study

Volume/Issue: 1998/123

Series: IMF Working Papers

Author(s): Jun Nagayasu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451854589

Keywords: Purchasing Power Parity, co-integration, exchange rates, exchange rate, statistics, exchange rate regimes, parallel exchange rates

This paper addresses whether parallel market exchange rates in Africa behave in the long run in a manner consistent with the purchasing power parity (PPP) hypothesis. A recent econometric method, the panel co-integ...

Japanese Effective Exchange Rates and Determinants

Japanese Effective Exchange Rates and Determinants »

Source: Japanese Effective Exchange Rates and Determinants : Prices, Real Interest Rates, and Actual and Optimal Current Accounts

Volume/Issue: 1998/86

Series: IMF Working Papers

Author(s): Jun Nagayasu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1998

ISBN: 9781451850857

Keywords: Long-run exchange rates, co-integration, exchange rate, exchange rates, current accounts, equation, statistics

This paper empirically analyzes Japanese long-run exchange rates from several perspectives. Several exchange rate models are considered, including the purchasing power parity, the real interest differential model,...

Budgetary Convergence in the WEAMU

Budgetary Convergence in the WEAMU »

Source: Budgetary Convergence in the WEAMU : Adjustment Through Revenue or Expenditure?

Volume/Issue: 2000/109

Series: IMF Working Papers

Author(s): Jean-Claude Nachega , and Ousmane Dore

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451853209

Keywords: Convergence, Granger causality, Co-integration, Error-correction, expenditure, expenditures, public debt, budget deficit

A regional convergence pact adopted recently by the Conference of Heads of States of WAEMU provides a framework for fiscal convergence similar to the European Union’s Maastricht Treaty. Using bivariate co-in...

Credit Growth in Latin America

Credit Growth in Latin America »

Source: Credit Growth in Latin America : Financial Development or Credit Boom?

Volume/Issue: 2013/106

Series: IMF Working Papers

Author(s): Niels-Jakob Harbo Hansen , and Olga Sulla

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2013

ISBN: 9781484390627

Keywords: Credit boom, financial development, panel co-integration, banking, banking sector, banking crisis, banking crises, bank equity,

Banking credit to the private sector in Latin America has on average increased by 7 percent of GDP from primo 2004 to ultimo 2011, with real credit in some countries growing by up to 20 percent per year. This paper...

Altruism and Workers' Remittances

Altruism and Workers' Remittances »

Source: Altruism and Workers' Remittances : Evidence from Selected Countries in the Middle East and Central Asia

Volume/Issue: 2006/130

Series: IMF Working Papers

Author(s): Jacques Bouhga-Hagbe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863901

Keywords: altruism, co-integration, cointegration, equation, workers ? remittances, equations, Household Behavior: General, Macroeconomics: Consumption, Saving, Production

Workers' remittances have been playing an increasingly important role in the balance of payments of many countries and can significantly contribute to the strength of their external positions. Assessing the likely...

A Theory of Workers' Remittances with An Application to Morocco

A Theory of Workers' Remittances with An Application to Morocco »

Source: A Theory of Workers' Remittances with An Application to Morocco

Volume/Issue: 2004/194

Series: IMF Working Papers

Author(s): Jacques Bouhga-Hagbe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451859898

Keywords: altruism, portfolio diversification, co-integration, equation, workers ? remittances, migration, statistics, Household Behavior: General, Macroeconomics: Consumption, Saving

This paper provides a model on how altruism, "attachment" to the home country, and portfolio diversification may act as potential motives behind workers' remittances. It shows that the level of workers' remittances...

Real Exchange Rate Misalignment

Real Exchange Rate Misalignment »

Source: Real Exchange Rate Misalignment : A Panel Co-Integration and Common Factor Analysis

Volume/Issue: 2005/164

Series: IMF Working Papers

Author(s): Etienne Yehoue , and Gilles Dufrénot

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861839

Keywords: panel co-integration, common factor, exchange rate, real exchange rate, confidence interval, exchange rates, effective exchange rate, International Economics: General, Simulation Methods,

We combine some newly developed panel co-integration techniques and common factor analysis to analyze the behavior of the real exchange rate (RER) in a sample of 64 developing countries. We study the dynamic of the...

Determinants of Property Prices in Hong Kong SAR

Determinants of Property Prices in Hong Kong SAR »

Source: Determinants of Property Prices in Hong Kong SAR : Implications for Policy

Volume/Issue: 2011/277

Series: IMF Working Papers

Author(s): R. Craig , and Changchun Hua

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463925949

Keywords: Property price, Co-Integration, Stamp Duty, Loan-to-Value Ratio, residential property, equation, standard errors, cointegration, Urban, Rural

This paper uses an econometric model of residential property prices in Hong Kong SAR to assess the effectiveness of alternative policies in slowing the increase in property prices. The rapid rise in property prices...