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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...

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...

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...

Russia's Regions

Russia's Regions »

Source: Russia's Regions : Income Volatility, Labor Mobility and Fiscal Policy

Volume/Issue: 2005/185

Series: IMF Working Papers

Author(s): Goohoon Kwon , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451862041

Keywords: Russia, panel VAR, expenditure, expenditures, fiscal surplus, fiscal federalism, Multiple or Simultaneous Equation Models: Models with Panel Data, Comparative Studies of Particular Economies,

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobili...

Institutions and Growth

Institutions and Growth »

Source: Institutions and Growth : a GMM/IV Panel VAR Approach

Volume/Issue: 2015/174

Series: IMF Working Papers

Author(s): Carlos Góes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2015

ISBN: 9781513555508

Keywords: Institutions, Panel VAR, Economic Development, gdp, gdp per capita, results, Semiparametric and Nonparametric Methods, Models with Panel Data, Institutions and Growth, Economic Development.,

Both sides of the institutions and growth debate have resorted largely to microeconometric techniques in testing hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short...

Financing of Global Imbalances

Financing of Global Imbalances »

Source: Financing of Global Imbalances

Volume/Issue: 2007/177

Series: IMF Working Papers

Author(s): Maria Teresa Punzi , and W. Christopher Walker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867411

Keywords: home bias, panel VAR, U.S. bond inflows, bond, bond flows, equation, correlation, statistics, Us Bond Inflows,

This paper analyzes the determinants of bond flows, now the dominant source of capital inflows, into the United States, as a means of establishing conditions affecting the financing of the U.S. current account defi...

Monetary Policy Transmission in the GCC Countries

Monetary Policy Transmission in the GCC Countries »

Source: Monetary Policy Transmission in the GCC Countries

Volume/Issue: 2012/132

Series: IMF Working Papers

Author(s): Ananthakrishnan Prasad , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503685

Keywords: Transmission mechanism, Fixed exchange rate regime, interest rate pass-through, panel VAR, inflation, central bank, monetary fund, monetary shocks,

The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the...

On the Heterogeneity Bias of Pooled Estimators in Stationary VAR Specifications

On the Heterogeneity Bias of Pooled Estimators in Stationary VAR Specifications »

Source: On the Heterogeneity Bias of Pooled Estimators in Stationary VAR Specifications

Volume/Issue: 2003/73

Series: IMF Working Papers

Author(s): Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451849486

Keywords: Dynamic Panel Data Models, Monte Carlo Simulation, Heterogeneity Bias, VARs, time series, finite sample, sample bias, econometrics, equation, Multiple or Simultaneous Equation Models: Models with Panel Data

This paper studies asymptotically the bias of the fixed effect (FE) estimator induced by cross-section heterogeneity in the slope parameters of stationary vector autoregressions (VARs). The paper also compares the...