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Testing Piketty's Hypothesis on the Drivers of Income Inequality

Testing Piketty's Hypothesis on the Drivers of Income Inequality »

Source: Testing Piketty's Hypothesis on the Drivers of Income Inequality : Evidence from Panel VARs with Heterogeneous Dynamics

Volume/Issue: 2016/160

Series: IMF Working Papers

Author(s): Carlos Góes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2016

ISBN: 9781475523249

Keywords: Income Inequality, Panel VAR, Factor Income Distribution

Thomas Piketty's Capital in the Twenty-First Century puts forth a logically consistent explanation for changes in income and wealth inequality patterns. However, while rich in data, the book provides no formal empi...

Is Unemployment on Steroids in Advanced Economies?*

Is Unemployment on Steroids in Advanced Economies?* »

Source: Is Unemployment on Steroids in Advanced Economies?

Volume/Issue: 2018/169

Series: IMF Working Papers

Author(s): Gabriel Di Bella , Francesco Grigoli , and Francisco Ramirez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2018

ISBN: 9781484367490

Keywords: Unemployment, Advanced economies, hysteresis, panel VAR, persistence, unit root

Despite conventional macroeconomic theory is based on the idea that demand shocks can only have temporary effects on unemployment, several European economies display highly persistent unemployment dynamics. The the...

Small and Medium Size Enterprises, Credit Supply Shocks, and Economic Recovery in Europe

Small and Medium Size Enterprises, Credit Supply Shocks, and Economic Recovery in Europe »

Source: Small and Medium Size Enterprises, Credit Supply Shocks, and Economic Recovery in Europe

Volume/Issue: 2014/98

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2014

ISBN: 9781498303590

Keywords: SMEs, Credit Supply Shocks, Panel VAR, gdp growth, real gdp, economic growth, medium size enterprises, Panel VAR.,

The limited access to bank credit in recent years has increased the pressure on small and medium size enterprises (SMEs), forcing them to scale down investment plans and production. This paper, which explores the m...

Fiscal Spillovers in the Euro Area: Letting the Data Speak

Fiscal Spillovers in the Euro Area: Letting the Data Speak »

Source: Fiscal Spillovers in the Euro Area: Letting the Data Speak

Volume/Issue: 2017/241

Series: IMF Working Papers

Author(s): Era Dabla-Norris , Pietro Dallari , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2017

ISBN: 9781484328262

Keywords: Fiscal Spillovers; Bayesian Methods; Fiscal Multipliers, Panel VAR, Fiscal Spillovers, Bayesian Methods, Fiscal Multipliers, Bayesian Analysis, Models with Panel Data

We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significan...

Credit Cyclicality in Chile

Credit Cyclicality in Chile »

Source: Credit Cyclicality in Chile : A Cross-Country Analysis

Volume/Issue: 2008/55

Series: IMF Working Papers

Author(s): Ludvig Söderling

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869170

Keywords: Credit growth, business cycle, panel VAR, terms of trade shocks, trade shocks, financial stability, competitive pressure,

This paper analyzes the determinants of credit cyclicality. It constructs a financial development index and studies whether it affects the amplitude of impulse responses to shocks to output, terms of trade, global...

The Linkage between the Oil and Non-oil Sectors

The Linkage between the Oil and Non-oil Sectors »

Source: The Linkage between the Oil and Non-oil Sectors : A Panel VAR Approach

Volume/Issue: 2010/118

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200771

Keywords: Panel VAR, inter-sectoral linkages, real effective exchange rate, oil sector, oil exporters, exporters, reer,

Recent empirical studies have shown an inverse relation between natural resource intensity and long-term growth, implying that the natural resources generally impede economic growth through various channels (the 'n...

Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses*

Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses* »

Source: Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses

Volume/Issue: 2017/222

Series: IMF Working Papers

Author(s): Woon Choi , Taesu Kang , Geun-Young Kim , and Byongju Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2017

ISBN: 9781484325216

Keywords: Global liquidity, Inflation targeting, Panel Factor-Augmented VAR, International Policy Coordination and Transmission

This paper distills and identifies global liquidity (GL) momenta from the macro-financial data of advanced economies through a factor model with sign restrictions as policy-driven, market-driven, and risk aversenes...

Comparative Macroeconomic Dynamics in the Arab World

Comparative Macroeconomic Dynamics in the Arab World »

Source: Comparative Macroeconomic Dynamics in the Arab World : A Panel Var Approach

Volume/Issue: 2000/54

Series: IMF Working Papers

Author(s): Alexei Kireyev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

ISBN: 9781451847505

Keywords: VAR, panel data, Arab countries, oil countries, cointegration, statistics, current account balance, external shocks

The paper presents a comparative analysis of macroeconomic dynamics of 18 Arab countries based on a panel vector autogression estimation. Comparing growth performance, fiscal and current account developments in the...

Fiscal Multipliers in the ECCU

Fiscal Multipliers in the ECCU »

Source: Fiscal Multipliers in the ECCU

Volume/Issue: 2013/117

Series: IMF Working Papers

Author(s): Jesus Gonzalez-Garcia , Antonio Lemus , and Mico Mrkaic

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

ISBN: 9781484359914

Keywords: Fiscal Multipliers, Panel VAR, OECS, ECCU, fiscal variables, tax revenues, tax revenue, fiscal policies, General, ECCU.,

The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The impact and long-...

Made in Mexico

Made in Mexico »

Source: Made in Mexico : Energy Reform and Manufacturing Growth

Volume/Issue: 2015/45

Series: IMF Working Papers

Author(s): Jorge Alvarez , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2015

ISBN: 9781498376426

Keywords: growth, energy reform, manufacturing output, gas, panel VAR, energy, prices, oil, Semiparametric and Nonparametric Methods, Cross-Sectional Models

This paper assesses the real effects of the energy reform in Mexico by looking at its impact on manufacturing output through changes in energy prices. Using sub-sector and state-level manufacturing output data, alo...