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Aggregate Stability and Balanced-Budget Rules

Aggregate Stability and Balanced-Budget Rules »

Source: Aggregate Stability and Balanced-Budget Rules

Volume/Issue: 2014/23

Series: IMF Working Papers

Author(s): Matteo Ghilardi , and Raffaele Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2014

ISBN: 9781475582291

Keywords: Constant Elasticity of Substitution, Indeterminacy, elasticity of substitution, tax rates, taxation,

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by...

Terms of Trade Shocks and the Current Account

Terms of Trade Shocks and the Current Account »

Source: Terms of Trade Shocks and the Current Account

Volume/Issue: 1998/177

Series: IMF Working Papers

Author(s): Paul Cashin , and C. McDermott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451975048

Keywords: Terms of trade, intertemporal elasticity of substitution, intratemporal elasticity of substitution, terms of trade shocks, trade shocks, relative price, elasticity of substitution

This paper examines the relationship between terms of trade shocks, private saving, and the current account position. The relationship between these variables is theoretically ambiguous: an adverse transitory terms...

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy »

Source: Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Volume/Issue: 2004/60

Series: IMF Working Papers

Author(s): Gabriel Srour

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451848083

Keywords: diversification, volume of trade, elasticity of substitution, Open Economy Macroeconomics,

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can dive...

Saudi Arabia: Selected Issues

Saudi Arabia: Selected Issues »

Source: Saudi Arabia : Selected Issues

Volume/Issue: 2013/230

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2013

ISBN: 9781484362419

Keywords: oil, oil prices, global supply, elasticity of substitution, domestic firms

This Selected Issues paper on Saudi Arabia assesses Saudi Arabia's role in the oil market and global economy. Saudi Arabia, the world's largest producer and exporter of oil, has long played a systemically important...

Saudi Arabia: Selected Issues

Saudi Arabia: Selected Issues »

Source: Saudi Arabia : Selected Issues

Volume/Issue: 2013/230

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2013

ISBN: 9781484362419

Keywords: oil, oil prices, global supply, elasticity of substitution, domestic firms

This Selected Issues paper on Saudi Arabia assesses Saudi Arabia's role in the oil market and global economy. Saudi Arabia, the world's largest producer and exporter of oil, has long played a systemically important...

Saudi Arabia: Selected Issues

Saudi Arabia: Selected Issues »

Source: Saudi Arabia : Selected Issues

Volume/Issue: 2013/230

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2013

ISBN: 9781484362419

Keywords: oil, oil prices, global supply, elasticity of substitution, domestic firms

This Selected Issues paper on Saudi Arabia assesses Saudi Arabia's role in the oil market and global economy. Saudi Arabia, the world's largest producer and exporter of oil, has long played a systemically important...

Saudi Arabia: Selected Issues

Saudi Arabia: Selected Issues »

Source: Saudi Arabia : Selected Issues

Volume/Issue: 2013/230

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 2013

ISBN: 9781484362419

Keywords: oil, oil prices, global supply, elasticity of substitution, domestic firms

This Selected Issues paper on Saudi Arabia assesses Saudi Arabia's role in the oil market and global economy. Saudi Arabia, the world's largest producer and exporter of oil, has long played a systemically important...

Union Behavior, Industry Rents, and Optimal Policies

Union Behavior, Industry Rents, and Optimal Policies »

Source: Union Behavior, Industry Rents, and Optimal Policies

Volume/Issue: 1996/143

Series: IMF Working Papers

Author(s): Phillip Swagel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

ISBN: 9781451856293

Keywords: wages, wage, elasticity of substitution, benefits, bargaining power

This paper examines the supposed welfare gains from strategic trade and industrial policies in the U.S. steel industry. Strategic policies to capture labor rents lead to an endogenous response which greatly diminis...

Elasticity Optimism

Elasticity Optimism »

Source: Elasticity Optimism

Volume/Issue: 2009/279

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874242

Keywords: Trade Elasticities, Heterogeneity, Calibration, International Portfolio, elasticity of substitution, equation, measurement error, import prices,

In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under...

Private Saving and Terms of Trade Shocks

Private Saving and Terms of Trade Shocks »

Source: Private Saving and Terms of Trade Shocks : Evidence From Developing Countries

Volume/Issue: 1991/100

Series: IMF Working Papers

Author(s): Jonathan Ostry , and Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1991

ISBN: 9781451852318

Keywords: terms of trade, terms of trade shocks, elasticity of substitution, relative price, trade shocks

This paper examines the relationship between temporary terms of trade shocks and household saving in developing countries. It is first shown that, from a theoretical standpoint, this relationship is ambiguous: priv...