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Determinants of Inflation in Mozambique

Determinants of Inflation in Mozambique »

Volume/Issue: 1997/145

Series: IMF Working Papers

Author(s): Angel Ubide

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1997

DOI: http://dx.doi.org/10.5089/9781451856507.001

ISBN: 9781451856507

Keywords: unobserved components, inflation equation, VAR, monetary policy, money supply, inflation rate, rate of inflation

Mozambique’s inflation rate was consistently high until 1995, and then plunged in 1996 to 17 percent from 70 percent in 1994. This paper suggests that Mozambique’s inflation pattern is a combination o...

Financing Growth in the WAEMU Through the Regional Securities Market
			: Past Successes and Current Challenges

Financing Growth in the WAEMU Through the Regional Securities Market : Past Successes and Current Challenges »

Volume/Issue: 2012/249

Series: IMF Working Papers

Author(s): Mame Astou Diouf , and Francois Boutin-Dufresne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2012

DOI: http://dx.doi.org/10.5089/9781475548204.001

ISBN: 9781475548204

Keywords: WAEMU, bond market, yield curve, principal component analysis, bond, securities market, t-bonds, Financial Markets and the Macroeconomy,

The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing publ...

Vietnam
			: Bayesian Estimation of Output Gap

Vietnam : Bayesian Estimation of Output Gap »

Volume/Issue: 2010/149

Series: IMF Working Papers

Author(s): Wojciech Maliszewski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201327.001

ISBN: 9781455201327

Keywords: Output Gap, Unobservable Component Model, Bayesian Methods, equation, equations, real interest rate, monetary policy, Model Construction and Estimation, Viet Nam,

The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other para...

Output and Inflation Co-movement
			: An Update on Business-Cycle Stylized Facts

Output and Inflation Co-movement : An Update on Business-Cycle Stylized Facts »

Volume/Issue: 2016/241

Series: IMF Working Papers

Author(s): Michal Andrle , Jan Bruha , and Serhat Solmaz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2016

DOI: http://dx.doi.org/10.5089/9781475560329.001

ISBN: 9781475560329

Keywords: General equilibrium models, Business cycles, Developed countries, Demand, Inflation, Production, Business cycle, demand shocks, DSGE models, dynamic principal components

What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue...

Alternative Methods of Estimating Potential Output and the Output Gap
			: An Application to Sweden

Alternative Methods of Estimating Potential Output and the Output Gap : An Application to Sweden »

Volume/Issue: 2000/59

Series: IMF Working Papers

Author(s): Sweta Saxena , and Valerie Cerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

DOI: http://dx.doi.org/10.5089/9781451847932.001

ISBN: 9781451847932

Keywords: Business Cycles, Output Gap, Potential Output, Detrending, Production Function, Vector Autoregression, Unobserved Components Models, nairu, equation, time series

This paper reviews a number of different methods that can be used to estimate potential output and the output gap. Measures of potential output and the output gap are useful to help identify the scope for sustainab...

Revisiting the Determinants of Productivity Growth - What's new?

Revisiting the Determinants of Productivity Growth - What's new? »

Volume/Issue: 2009/225

Series: IMF Working Papers

Author(s): Boileau Loko , and Mame Astou Diouf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

DOI: http://dx.doi.org/10.5089/9781451873726.001

ISBN: 9781451873726

Keywords: Productivity growth, female labour participation, principal components analysis, dynamic panel regression, tfp, real gdp, total factor productivity,

This paper studies the main determinants of total factor productivity (TFP) growth using principal component analysis and a dynamic panel data model and, through a case study, explores key areas where accelerated r...

Long-Run Productivity Shifts and Cyclical Fluctuations
			: Evidence for Italy

Long-Run Productivity Shifts and Cyclical Fluctuations : Evidence for Italy »

Volume/Issue: 2005/228

Series: IMF Working Papers

Author(s): Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451862478.001

ISBN: 9781451862478

Keywords: Productivity growth, business cycle, unobserved components models, filtering, tfp, employment, unemployment, growth accounting, Multiple or Simultaneous Equation Models: Time-Series Models,

Using unobserved stochastic components and Kalman filter techniques, the paper assesses the relative importance of transitory and permanent shifts in Italian real GDP within a production function framework. Evidenc...

The Impact of Introducing a Minimum Wage on Business Cycle Volatility
			: A Structural Analysis for Hong Kong SAR

The Impact of Introducing a Minimum Wage on Business Cycle Volatility : A Structural Analysis for Hong Kong SAR »

Volume/Issue: 2008/285

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871432.001

ISBN: 9781451871432

Keywords: indexation mechanism, business cycle volatility, dynamic stochastic general equilibrium model, unobserved components model, market flexibility, small open economy, wage, wage inflation, price inflation,

We study the impact of a minimum wage on business cycle volatility, depending upon its coverage and adjustment mechanism. As with other small open economies, Hong Kong SAR is vulnerable to external shocks, with its...

Output and Unemployment Dynamics during the Great Recession
			: A Panel Unobserved Components Analysis

Output and Unemployment Dynamics during the Great Recession : A Panel Unobserved Components Analysis »

Volume/Issue: 2010/185

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455202195.001

ISBN: 9781455202195

Keywords: Output dynamics, Unemployment dynamics, World economy, Great Recession, Panel unobserved components model, unemployment rate, unemployment, domestic demand, labor demand, Open Economy Macroeconomics,

This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated...

Common and Idiosyncratic Components in Real Output
			: Further International Evidence

Common and Idiosyncratic Components in Real Output : Further International Evidence »

Volume/Issue: 2002/229

Series: IMF Working Papers

Author(s): Francisco Nadal De Simone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451875485.001

ISBN: 9781451875485

Keywords: common, European and idiosyncratic components, state-space Models, statistics, correlation, time series, statistic, Model Construction and Estimation, International Policy Coordination and Transmission,

This paper uses the classical (level) definition of business cycles to analyze the characteristics-duration, amplitude, steepness, and cumulative output movements-of the real GDP series of France, Germany, Italy, t...