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The Macroeconomic Effects of Natural Resource Extraction
			: Applications to Papua New Guinea

The Macroeconomic Effects of Natural Resource Extraction : Applications to Papua New Guinea »

Volume/Issue: 2013/138

Series: IMF Working Papers

Author(s): Suman Basu , Jan Gottschalk , Werner Schule , Nikhil Vellodi , and Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 May 2013

DOI: http://dx.doi.org/10.5089/9781484321379.001

ISBN: 9781484321379

Keywords: natural resource, resource-rich developing countries, DSGE models, monetary policy, central bank, inflation, foreign exchange, money supply, Exhaustible Resources and Economic Development, Economic Growth of Open Economies

To investigate the effects on Papua New Guinea’s economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resou...

Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants

Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants »

Volume/Issue: 2012/141

Series: IMF Working Papers

Author(s): Ivohasina Razafimahefa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475503982.001

ISBN: 9781475503982

Keywords: exchange rate, impulse responses, exchange rate pass, exchange rate changes,

This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. It finds that the pass-through is incomplete. The pass-through is larger following a depr...

Estimating The Inflation-Growth Nexus-A Smooth Transition Model

Estimating The Inflation-Growth Nexus-A Smooth Transition Model »

Volume/Issue: 2010/76

Series: IMF Working Papers

Author(s): Raphael Espinoza , Ananthakrishnan Prasad , and Gene Leon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982190.001

ISBN: 9781451982190

Keywords: Growth, Phillips curve, Logistic Smooth Transition, effect of inflation, terms of trade, monetary fund,

Motivated by the global inflation episode of 2007-08 and concern that high levels of inflation could undermine growth, this paper uses a panel of 165 countries and data for 1960-2007 to revisit the nexus between in...

Explaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa

Explaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa »

Volume/Issue: 2008/287

Series: IMF Working Papers

Author(s): Gonzalo Salinas , and Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871456.001

ISBN: 9781451871456

Keywords: Growth, Acceleration, Deceleration, Africa, terms of trade, economic liberalization, inflation, external shocks, world demand, Volatility spillovers

The growth literature has had problems explaining the "sub-Saharan African growth dummy" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Sahar...

Papua New Guinea
			: Selected Issues and Statistical Appendix

Papua New Guinea : Selected Issues and Statistical Appendix »

Volume/Issue: 2008/93

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2008

DOI: http://dx.doi.org/10.5089/9781451831740.002

ISBN: 9781451831740

Keywords: government expenditure, money growth, monetary conditions, government expenditures

This paper analyzes the workings and effectiveness of the monetary transmission mechanism in Papua New Guinea. The paper is organized as follows: it describes the current institutional structure in Papua New Guinea...

Inflation and Monetary Pass-Through in Guinea

Inflation and Monetary Pass-Through in Guinea »

Volume/Issue: 2004/223

Series: IMF Working Papers

Author(s): Rodolphe Blavy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2004

DOI: http://dx.doi.org/10.5089/9781451875324.001

ISBN: 9781451875324

Keywords: cointegration, error correction model, price level, money growth, Multiple or Simultaneous Equation Models: Time-Series Models, Economywide Country Studies: Africa,

The paper analyzes the dynamics of inflation in Guinea during 1992-2003 applying cointegration and error-correction modeling to a bivariate model that includes consumer price and monetary variables. The empirical r...

The Response of the Current Account to Terms of Trade Shocks
			: Persistence Matters

The Response of the Current Account to Terms of Trade Shocks : Persistence Matters »

Volume/Issue: 2003/143

Series: IMF Working Papers

Author(s): Paul Cashin , and Christopher Kent

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

DOI: http://dx.doi.org/10.5089/9781451856361.001

ISBN: 9781451856361

Keywords: terms of trade, shock persistence, terms of trade shocks, trade shocks, trade shock, current account balance, Current accounts,

Is the relationship between the current account balance and the terms of trade affected by the persistence of terms of trade shocks? In intertemporal models of the current account that incorporate a consumption-smo...

Exchange-Rate-Based Stabilization
			: A Critical Look at the Stylized Facts

Exchange-Rate-Based Stabilization : A Critical Look at the Stylized Facts »

Volume/Issue: 1999/132

Series: IMF Working Papers

Author(s): A. Hamann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1999

DOI: http://dx.doi.org/10.5089/9781451855364.001

ISBN: 9781451855364

Keywords: inflation stabilization, exchange-rate-based stabilization, stabilization, high inflation, inflation rate

Do exchange-rate-based stabilizations generate distinctive economic dynamics? To address this question, this paper identifies stabilization episodes using criteria that differ from those in previous empirical studi...

Papua New Guinea
			: Recent Economic Developments

Papua New Guinea : Recent Economic Developments »

Volume/Issue: 1998/18

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 1998

DOI: http://dx.doi.org/10.5089/9781451831610.002

ISBN: 9781451831610

Keywords: inflation, monetary policy, foreign exchange, inflation rate, price level

This paper reviews economic developments in Papua New Guinea during 1995-97. The nonmineral sector was characterized by uneven growth. Following a period of slow growth at the time of the Bougainville crisis (1989-...

IMF Staff papers, Volume 37 No. 2

IMF Staff papers, Volume 37 No. 2 »

Volume: 37

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1990

DOI: http://dx.doi.org/10.5089/9781451947069.024

ISBN: 9781451947069

Keywords: inflation, balance of payments, current account, macroeconomic stability

This paper examines the macroeconomic effects of IMF-supported adjustment programs. The evidence is reviewed for such effects, and new estimates are provided of these effects for 69 developing countries with progra...