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Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation

Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation »

Source: Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation

Volume/Issue: 2004/31

Series: IMF Working Papers

Author(s): Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451845051

Keywords: Real exchange rate, capital mobility, capital market, open economy, Open Economy Macroeconomics, Economic Growth of Open Economies,

This paper introduces a tractable capital market friction mechanism that allows a break of the parity between domestic and external interest rates and generates a gradual evolution of capital stock and other macroe...

How Do Banking Crises Affect Bilateral Exports?

How Do Banking Crises Affect Bilateral Exports? »

Source: How Do Banking Crises Affect Bilateral Exports?

Volume/Issue: 2013/150

Series: IMF Working Papers

Author(s): Youssouf Kiendrebeogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2013

ISBN: 9781475576276

Keywords: banking, financial crisis, Open Economy Macroeconomics,

This paper investigates whether banking crises are associated with declines in bilateral exports. We first develop a simple open economy model in which banking crises translate into negative liquidity shocks, leadi...

World Food Prices and Monetary Policy

World Food Prices and Monetary Policy »

Source: World Food Prices and Monetary Policy

Volume/Issue: 2010/161

Series: IMF Working Papers

Author(s): Roberto Chang , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201440

Keywords: Small Open Economy, DSGE models, inflation, terms of trade, relative price, Open Economy Macroeconomics,

The large swings in world food prices in recent years renew interest in the question of how monetary policy in small open economies should react to such imported price shocks. We examine this issue in a canonical o...

How Much Do Trading Partners Matter for Economic Growth?

How Much Do Trading Partners Matter for Economic Growth? »

Source: How Much Do Trading Partners Matter for Economic Growth?

Volume/Issue: 2004/26

Series: IMF Working Papers

Author(s): Vivek Arora , and Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451844412

Keywords: trading partners, trading partner, trade share, open economies, partner countries, Economic Growth of Open Economies,

This paper empirically examines the extent to which a country's economic growth is influenced by its trading partner economies. Panel estimation results based on four decades of data for over 100 countries show tha...

Inflation Targeting and Exchange Rate Rules in an Open Economy

Inflation Targeting and Exchange Rate Rules in an Open Economy »

Source: Inflation Targeting and Exchange Rate Rules in an Open Economy

Volume/Issue: 2004/21

Series: IMF Working Papers

Author(s): Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451921892

Keywords: open economy, monetary policy rules, inflation, central bank, aggregate demand, Open Economy Macroeconomics,

This paper provides a simple dynamic neo-Keynesian model that can be used to analyze the impact of monetary policy that considers inflation targeting in a small open economy. This economy is characterized by imperf...

The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies

The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies »

Source: The Implications of Trade Barriers for Sectoral Diversification and Macroeconomic Stability in Developing Economies

Volume/Issue: 2006/50

Series: IMF Working Papers

Author(s): Gabriel Srour

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2006

ISBN: 9781451863109

Keywords: diversification, trade barriers, elasticity of substitution, open economy, Open Economy Macroeconomics,

The paper examines the implications of lower trade barriers for sectoral diversification and macroeconomic stability in developing economies with a large primary goods sector. It shows that lower trade barriers can...

A Small Structural Monetary Policy Model for Small Open Economies with Debt Accumulation

A Small Structural Monetary Policy Model for Small Open Economies with Debt Accumulation »

Source: A Small Structural Monetary Policy Model for Small Open Economies with Debt Accumulation

Volume/Issue: 2008/64

Series: IMF Working Papers

Author(s): Philippe Karam , and A. R. Pagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869262

Keywords: Small open economy, model construction and estimation, inflation, terms of trade, open economy, foreign currency,

We extend a small New Keynesian structural model used for monetary policy analysis to address a richer class of policy issues that arise in open economy analysis. We draw a distinction between absorption and domest...

Interest Rate Rules, Endogenous Cycles, and Chaotic Dynamics in Open Economies

Interest Rate Rules, Endogenous Cycles, and Chaotic Dynamics in Open Economies »

Source: Interest Rate Rules, Endogenous Cycles, and Chaotic Dynamics in Open Economies

Volume/Issue: 2012/121

Series: IMF Working Papers

Author(s): Luis-Felipe Zanna , and Marco Airaudo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503500

Keywords: Small Open Economy, Interest Rate Rules, Taylor Rules, Multiple Equilibria, Chaos, Cycles and Endogenous Fluctuations, inflation, nominal interest rate, open economy, trade openness

We present an extensive analysis of the consequences for global equilibrium determinacy in flexible-price open economies of implementing active interest rate rules, i.e., monetary rules where the nominal interest r...

The Composition and Cyclical Behavior of Trade Flows in Emerging Economies1

The Composition and Cyclical Behavior of Trade Flows in Emerging Economies1 »

Source: The Composition and Cyclical Behavior of Trade Flows in Emerging Economies

Volume/Issue: 2010/46

Series: IMF Working Papers

Author(s): Reinout De Bock

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451963106

Keywords: International business cycles, Emerging economy, Trade balance, capital good, open economy, trade flows, investment goods, Open Economy Macroeconomics,

Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM ex...

Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease?

Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease? »

Source: Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease?

Volume/Issue: 2010/182

Series: IMF Working Papers

Author(s): Juan Pablo Medina Guzman , and Ruy Lama

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202164

Keywords: Learning-by-doing, Small open economy, exchange rate, exchange rate intervention, real exchange rate, open economy, commodity prices, Open Economy Macroeconomics,

This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidit...