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Monetary Policy Rules for Managing Aid Surges in Africa

Monetary Policy Rules for Managing Aid Surges in Africa »

Source: Monetary Policy Rules for Managing Aid Surges in Africa

Volume/Issue: 2007/180

Series: IMF Working Papers

Author(s): Edward Buffie , Stephen O'Connell , Catherine Pattillo , and Christopher Adam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867442

Keywords: Aid volatility, stochastic simulation models, exchange rate, inflation, foreign exchange, real exchange rate,

Since the turn of the century, aid flows to Africa have increased on average and become more volatile. As a result, policymakers, particularly in post-stabilization countries where inflation has only recently been...

French Public Finances

French Public Finances »

Source: French Public Finances : Modeling Long-Term Prospects and Reform Options

Volume/Issue: 1998/12

Series: IMF Working Papers

Author(s): Karl Habermeier , and Fabrice Lenseigne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1998

ISBN: 9781451842876

Keywords: Population Aging, Economic Growth, Public Finance, Health Care, Stochastic Simulations, pension, retirement, retirement age

Over the coming decades, demographic developments will lead to a significant increase in public outlays on pensions and health care, relative to national income. This study extends earlier work by considering the a...

Measures of Fiscal Risk in  Hydrocarbon-Exporting Countries

Measures of Fiscal Risk in Hydrocarbon-Exporting Countries »

Source: Measures of Fiscal Risk in Hydrocarbon-Exporting Countries

Volume/Issue: 2012/260

Series: IMF Working Papers

Author(s): Carlos Caceres , and Leandro Medina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2012

ISBN: 9781475530162

Keywords: stochastic simulations, volatility, break-even prices, exporting countries, commodity prices, break-even prices., Forecasting and Other Model Applications, Financial Forecasting and Simulation, General, Government Policy,

The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, mediu...

The Flexible System of Global Models – FSGM

The Flexible System of Global Models – FSGM »

Source: The Flexible System of Global Models - FSGM

Volume/Issue: 2015/64

Series: IMF Working Papers

Author(s): Michal Andrle , Patrick Blagrave , Pedro Espaillat , Keiko Honjo , Benjamin Hunt , Mika Kortelainen , René Lalonde , Douglas Laxton , Eleonara Mavroeidi , Dirk Muir , Susanna Mursula , and Stephen Snudden

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2015

ISBN: 9781475518665

Keywords: dynamic stochastic general equilibrium models, macroeconomic interdependence, consumption, investment, demand, trade, potential output, Forecasting and Simulation, Monetary Policy (Targets, Instruments

The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structur...

Spillovers in the Nordic Countries

Spillovers in the Nordic Countries »

Source: Spillovers in the Nordic Countries

Volume/Issue: 2015/70

Series: IMF Working Papers

Author(s): Borislava Mircheva , and Dirk Muir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2015

ISBN: 9781475554106

Keywords: dynamic stochastic general equilibrium models, Nordic countries, gdp, demand, consumption, real gdp, investment, Forecasting and Simulation, Monetary Policy (Targets, Instruments

Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF's Global Integrated Monetary and Fiscal model (GIMF...

A Macro Model of the Credit Channel in a Currency Union Member

A Macro Model of the Credit Channel in a Currency Union Member »

Source: A Macro Model of the Credit Channel in a Currency Union Member : The Case of Benin

Volume/Issue: 2010/191

Series: IMF Working Papers

Author(s): Issouf Samaké

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202256

Keywords: Benin; Credit channel, government bonds, general equilibrium, stochastic simulation, bonds, reserve requirement, monetary policy, central bank, Simulation Methods, Macroeconomics: Production

This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed excha...

Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy

Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy »

Source: Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy

Volume/Issue: 2013/22

Series: IMF Working Papers

Author(s): Lusine Lusinyan , and Dirk Muir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2013

ISBN: 9781475530865

Keywords: Growth, structural reforms, product market competition, macroeconomic policy coordination, dynamic stochastic general equilibrium models, labor market, labor supply, employment, labor productivity, Forecasting and Other Model Applications

Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor markets. Our analysis, based on the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), atte...

Modeling Stochastic Volatility with Application to Stock Returns

Modeling Stochastic Volatility with Application to Stock Returns »

Source: Modeling Stochastic Volatility with Application to Stock Returns

Volume/Issue: 2003/125

Series: IMF Working Papers

Author(s): Noureddine Krichene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

ISBN: 9781451854848

Keywords: data augmentation, diagnostics, integration sampler, Kalman filter, Markov chain Monte Carlo, particle filtering, stochastic volatility, time series, sampling, equation

A stochastic volatility model where volatility was driven solely by a latent variable called news was estimated for three stock indices. A Markov chain Monte Carlo algorithm was used for estimating Bayesian paramet...

Monetary Policy Rules for Managing Aid Surges in Africa

Monetary Policy Rules for Managing Aid Surges in Africa »

Volume/Issue: 2007/180

Series: IMF Working Papers

Author(s): Edward Buffie , Stephen O'Connell , Catherine Pattillo , and Christopher Adam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867442.001

ISBN: 9781451867442

Keywords: Aid volatility, stochastic simulation models, exchange rate, inflation, foreign exchange, real exchange rate,

Since the turn of the century, aid flows to Africa have increased on average and become more volatile. As a result, policymakers, particularly in post-stabilization countries where inflation has only recently been...

French Public Finances
			: Modeling Long-Term Prospects and Reform Options

French Public Finances : Modeling Long-Term Prospects and Reform Options »

Volume/Issue: 1998/12

Series: IMF Working Papers

Author(s): Karl Habermeier , and Fabrice Lenseigne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1998

DOI: http://dx.doi.org/10.5089/9781451842876.001

ISBN: 9781451842876

Keywords: Population Aging, Economic Growth, Public Finance, Health Care, Stochastic Simulations, pension, retirement, retirement age

Over the coming decades, demographic developments will lead to a significant increase in public outlays on pensions and health care, relative to national income. This study extends earlier work by considering the a...