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Fiscal Reaction Functions in the CFA Zone

Fiscal Reaction Functions in the CFA Zone »

Source: Fiscal Reaction Functions in the CFA Zone : An Analytical Perspective

Volume/Issue: 2007/232

Series: IMF Working Papers

Author(s): Oral Williams , and Olumuyiwa Adedeji

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451867961

Keywords: CFA Zone, Convergence, Economic Model, debt, fiscal balance, fiscal performance, public debt,

The stance of fiscal policy in CEMAC and WAEMU is strongly influenced by fiscal effort in the previous period. This persistence underscores the risks of a procyclical fiscal policy stance, given these countries' hi...

Regional Convergence in Latin America

Regional Convergence in Latin America »

Source: Regional Convergence in Latin America

Volume/Issue: 2006/125

Series: IMF Working Papers

Author(s): Bennett Sutton , Genevieve Lindow , Maria Isabel Serra , Gustavo Ramirez , and Maria Fernanda Pazmino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863857

Keywords: growth, convergence, regional disparities, standard deviation, trade liberalization, conditional convergence, equation, correlation, Economywide Country Studies: Oceania, Regional Economic Activity: Growth

This paper presents empirical evidence on convergence of per capita output for regions within six large middle-income Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico, and Peru. It explores the...

Finance and Convergence

Finance and Convergence »

Source: Finance and Convergence : What's Ahead for Emerging Europe?

Volume/Issue: 2007/244

Series: IMF Working Papers

Author(s): Philip Schellekens , and Rudolfs Bems

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2007

ISBN: 9781451868074

Keywords: convergence, general equilibrium, capital inflows, capital markets, nontradable goods, current account deficits, current account deficit,

This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies p...

Changing Nature of North-South Linkages

Changing Nature of North-South Linkages »

Source: Changing Nature of North-South Linkages : Stylized Facts and Explanations

Volume/Issue: 2007/280

Series: IMF Working Papers

Author(s): Cigdem Akin , and Ayhan Kose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868432

Keywords: growth linkages, north, south, decoupling, divergence, convergence, globalization period, trade intensity, industry trade, trade flows,

This paper examines the changing nature of growth spillovers between developed economies, the North, and developing countries, the South, driven by the process of globalization?the phenomenon of rising internationa...

Macroeconomic Effects of EU Transfers in New Member States

Macroeconomic Effects of EU Transfers in New Member States »

Source: Macroeconomic Effects of EU Transfers in New Member States

Volume/Issue: 2008/223

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870817

Keywords: Convergence, cross-country transfers, policy-mix, exchange rate, inflation, real exchange rate, real interest rate,

Large inflows from the European Union to the New Member States are likely to significantlyimpact macroeconomic outcomes. In this paper, we use the IMF's Global Integrated Monetaryand Fiscal model (GIMF) to analyze...

Macroeconomics of Migration in New Member States

Macroeconomics of Migration in New Member States »

Source: Macroeconomics of Migration in New Member States

Volume/Issue: 2008/264

Series: IMF Working Papers

Author(s): Rudolfs Bems , and Philip Schellekens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

ISBN: 9781451871227

Keywords: international factor movements, convergence, general equilibrium, labor flows, labor market, labor force, labor markets,

This paper examines the macroeconomic impact of migration on income convergence in the EU's New Member States (NMS). The paper focuses on cross-border mobility of labor and examines the implications for policymaker...

Global Business Cycles

Global Business Cycles »

Source: Global Business Cycles : Convergence or Decoupling?

Volume/Issue: 2008/143

Series: IMF Working Papers

Author(s): Ayhan Kose , Eswar Prasad , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870015

Keywords: macroeconomic fluctuations, convergence, decoupling, business cycle, globalization period, business cycle fluctuations,

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets,...

Forces Driving Inflation in the New EU10 Members

Forces Driving Inflation in the New EU10 Members »

Source: Forces Driving Inflation in the New EU10 Members

Volume/Issue: 2009/51

Series: IMF Working Papers

Author(s): Emil Stavrev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871999

Keywords: generalized dynamic factor model, price convergence, price level, relative price, inflation process, inflation dynamics,

The paper analyzes the forces driving inflation in the new EU10 member countries. A significant part of headline inflation in these countries is due to common factors, such as price level convergence and EU integra...

Experience with Budgetary Convergence in the WAEMU

Experience with Budgetary Convergence in the WAEMU »

Source: Experience with Budgetary Convergence in the WAEMU

Volume/Issue: 2002/108

Series: IMF Working Papers

Author(s): Paul Masson , and Ousmane Dore

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

ISBN: 9781451853117

Keywords: Convergence, Integration, terms of trade, fiscal balance, tax revenue, History of Thought: Macroeconomics, Hypothesis Testing, Estimation,

This paper reviews the experience of fiscal adjustment undertaken in the West African Economic and Monetary Union (WAEMU) countries since the entry into force of the 1994 treaty establishing the framework for a reg...

How Far Is Eastern Europe from Brussels?

How Far Is Eastern Europe from Brussels? »

Source: How Far Is Eastern Europe from Brussels?

Volume/Issue: 1998/53

Series: IMF Working Papers

Author(s): Ratna Sahay , Carlos Végh Gramont , and Stanley Fischer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1998

ISBN: 9781451847352

Keywords: transition, convergence, per capita income, transition economies, growth rate, growth rates, gdp per capita

The current destination of Central and Eastern European countries—explicitly for some, implicitly for all—is Brussels. The concept of the distance from Brussels is multi-dimensional. One simple measur...