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Financial Resource Curse in Resource-Rich Countries

Financial Resource Curse in Resource-Rich Countries »

Source: Financial Resource Curse in Resource-Rich Countries

Volume/Issue: 2017/163

Series: IMF Working Papers

Author(s): Montfort Mlachila , and Rasmané Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2017

ISBN: 9781484310144

Keywords: Commodity price shocks, financial sector development, General, Financial Markets and the Macroeconomy, Government Policy and Regulation

Why do commodity-dependent developing countries have typically lower levels of financial development than their peers? The literature has proposed many possible explanations, but it typically does not dwell on the...

Credit-Supply Shocks and Firm Productivity in Italy1

Credit-Supply Shocks and Firm Productivity in Italy1 »

Source: Credit-Supply Shocks and Firm Productivity in Italy

Volume/Issue: 2017/67

Series: IMF Working Papers

Author(s): Sebastian Dörr , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

ISBN: 9781475588668

Keywords: Financial crises, Europe, Italy, Productivity, credit-supply shocks, labor market rigidities, Financial Markets and the Macroeconomy

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a no...

Shocks, Financial Dependence, and Efficiency

Shocks, Financial Dependence, and Efficiency »

Source: Shocks, Financial Dependence, and Efficiency : Evidence From U.S. and Canadian Industries

Volume/Issue: 2011/199

Series: IMF Working Papers

Author(s): Marcello Estevão , and Tiago Severo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

ISBN: 9781462304226

Keywords: financial shocks, tfp, calibration, equation, probability, Macroeconomics: Production, Financial Markets and the Macroeconomy,

The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using indus...

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation »

Source: Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Volume/Issue: 2017/211

Series: IMF Working Papers

Author(s): Ambrogio Cesa-Bianchi , and Emilio Fernández Corugedo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

ISBN: 9781484320723

Keywords: Business cycles, Uncertainty shocks, Credit frictions, uncertainty, General, Financial Markets and the Macroeconomy

Are uncertainty shocks a major source of business cycle fluctuations? This paper studies the effect of a mean preserving shock to the variance of aggregate total factor productivity (macro uncertainty) and to the d...

The Granular Origins of Macroeconomic Fluctuations in Europe

The Granular Origins of Macroeconomic Fluctuations in Europe »

Source: The Granular Origins of Macroeconomic Fluctuations in Europe

Volume/Issue: 2017/229

Series: IMF Working Papers

Author(s): Christian Ebeke , and Kodjovi Eklou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 November 2017

ISBN: 9781484324806

Keywords: Idiosyncratic shocks; Aggregate fluctuations, SMEs; Balance Sheets, Idiosyncratic shocks, Aggregate fluctuations, SMEs, Balance Sheets, Financial Markets and the Macroeconomy

This paper investigates the microeconomic origins of aggregate economic fluctuations in Europe. It examines the relevance of idiosyncratic shocks at the top 100 large firms (the granular shocks) in explaining aggre...

The Drivers of Housing Cycles in Spain1

The Drivers of Housing Cycles in Spain1 »

Source: The Drivers of Housing Cycles in Spain

Volume/Issue: 2009/203

Series: IMF Working Papers

Author(s): Pau Rabanal , and Oriol Aspachs-Bracons

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873504

Keywords: inflation, monetary shocks, price level, monetary economics, Financial Markets and the Macroeconomy, Open Economy Macroeconomics, Financial Constraints,

Since Spain joined the EMU, two main important factors behind the housing boom appear to be the decrease of nominal interest rates and demographic factors. In this paper we estimate a New Keynesian model of a curre...

Financial Resource Curse in Resource-Rich Countries

Financial Resource Curse in Resource-Rich Countries »

Volume/Issue: 2017/163

Series: IMF Working Papers

Author(s): Montfort Mlachila , and Rasmané Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2017

DOI: http://dx.doi.org/10.5089/9781484310144.001

ISBN: 9781484310144

Keywords: Commodity price shocks, financial sector development, General, Financial Markets and the Macroeconomy, Government Policy and Regulation

Why do commodity-dependent developing countries have typically lower levels of financial development than their peers? The literature has proposed many possible explanations, but it typically does not dwell on the...

Credit-Supply Shocks and Firm Productivity in Italy

Credit-Supply Shocks and Firm Productivity in Italy »

Volume/Issue: 2017/67

Series: IMF Working Papers

Author(s): Sebastian Dörr , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

DOI: http://dx.doi.org/10.5089/9781475588668.001

ISBN: 9781475588668

Keywords: Financial crises, Europe, Italy, Productivity, credit-supply shocks, labor market rigidities, Financial Markets and the Macroeconomy

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a no...

Shocks, Financial Dependence, and Efficiency
			: Evidence From U.S. and Canadian Industries

Shocks, Financial Dependence, and Efficiency : Evidence From U.S. and Canadian Industries »

Volume/Issue: 2011/199

Series: IMF Working Papers

Author(s): Marcello Estevão , and Tiago Severo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

DOI: http://dx.doi.org/10.5089/9781462304226.001

ISBN: 9781462304226

Keywords: financial shocks, tfp, calibration, equation, probability, Macroeconomics: Production, Financial Markets and the Macroeconomy,

The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using indus...

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation »

Volume/Issue: 2017/211

Series: IMF Working Papers

Author(s): Ambrogio Cesa-Bianchi , and Emilio Fernández Corugedo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

DOI: http://dx.doi.org/10.5089/9781484320723.001

ISBN: 9781484320723

Keywords: Business cycles, Uncertainty shocks, Credit frictions, uncertainty, General, Financial Markets and the Macroeconomy

Are uncertainty shocks a major source of business cycle fluctuations? This paper studies the effect of a mean preserving shock to the variance of aggregate total factor productivity (macro uncertainty) and to the d...