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Capital Inflows and the Real Exchange Rate

Capital Inflows and the Real Exchange Rate »

Source: Capital Inflows and the Real Exchange Rate : Can Financial Development Cure the Dutch Disease?

Volume/Issue: 2009/20

Series: IMF Working Papers

Author(s): Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871678

Keywords: Financial Market Development, Real Exchange Rate, Dynamic Panel Data Models, exchange rate, stock market,

This paper argues that, in improving the efficient allocation of resources, financial sector development could dampen the appreciation effect of capital inflows. Using dynamic panel data techniques, the paper finds...

Technological Adaptation, Trade, and Growth

Technological Adaptation, Trade, and Growth »

Source: Technological Adaptation, Trade, and Growth

Volume/Issue: 2000/161

Series: IMF Working Papers

Author(s): Alberto Chong , and Luisa Zanforlin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451857801

Keywords: Growth, Assimilation, Technology, Imitation, Dynamic Panel Data, intermediate inputs, correlation, international trade, statistics, unskilled labor

This paper extends Grossman and Helpman’s seminal work (1991), and presents an endogenous growth model where innovations created in a high-tech sector may be assimilated or adapted by a low-tech sector. Appl...

Firm Investment and Balance-Sheet Problems in Japan

Firm Investment and Balance-Sheet Problems in Japan »

Source: Firm Investment and Balance-Sheet Problems in Japan

Volume/Issue: 1999/111

Series: IMF Working Papers

Author(s): Toshitaka Sekine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

ISBN: 9781451853452

Keywords: credit channel, dynamic panel data, bond, bank of japan, bond issuing, bank bond, deposit insurance

This paper investigates whether balance-sheet conditions of firms and their main banks matter for firm investment behavior using dynamic corporate panel data in Japan for the period 1985-95. It finds that smaller n...

Monetary Transmission of Global Imbalances in Asian Countries

Monetary Transmission of Global Imbalances in Asian Countries »

Source: Monetary Transmission of Global Imbalances in Asian Countries

Volume/Issue: 2010/214

Series: IMF Working Papers

Author(s): Il Lee , and Woon Choi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205455

Keywords: global imbalance, monetary transmission, net saving rates, dynamic panel, monetary fund, real rates, real output,

The paper explores the linkages between the global and domestic monetary gaps, and estimates the effects of monetary gaps on output growth, inflation, and net saving rates using panel data for 20 Asian countries fo...

Growth Determinants Revisited

Growth Determinants Revisited »

Source: Growth Determinants Revisited

Volume/Issue: 2009/268

Series: IMF Working Papers

Author(s): Charalambos Tsangarides , and Alin Mirestean

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874136

Keywords: growth regressions, Bayesian Model Averaging, dynamic panel estimation, limited information estimation, probability, econometrics, probabilities, equation, growth model,

This paper revisits the cross-country growth empirics debate using a novel Limited Information Bayesian Model Averaging framework to address model uncertainty in the context of a dynamic growth model in panel data...

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

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

Source: 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

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...

Limited Information Bayesian Model Averaging for Dynamic Panels with Short Time Periods

Limited Information Bayesian Model Averaging for Dynamic Panels with Short Time Periods »

Source: Limited Information Bayesian Model Averaging for Dynamic Panels with Short Time Periods

Volume/Issue: 2009/74

Series: IMF Working Papers

Author(s): Alin Mirestean , Charalambos Tsangarides , and Huigang Chen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872217

Keywords: Bayesian Model Averaging, Model Uncertainty, Dynamic Panels, Generalized Method of Moments, Robustness, probability, probabilities, econometrics, sample size, equation,

Bayesian Model Averaging (BMA) provides a coherent mechanism to address the problem of model uncertainty. In this paper we extend the BMA framework to panel data models where the lagged dependent variable as well a...

A Bayesian Approach to Model Uncertainty

A Bayesian Approach to Model Uncertainty »

Source: A Bayesian Approach to Model Uncertainty

Volume/Issue: 2004/68

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451849028

Keywords: Economic models, Forecasting models, Dynamic Panel Estimation, Bayesian Model Averaging, probability, probabilities, hypothesis testing, bayes factors, equation

This paper develops the theoretical background for the Limited Information Bayesian Model Averaging (LIBMA). The proposed approach accounts for model uncertainty by averaging over all possible combinations of predi...

Effects of Capital Flow Liberalization

Effects of Capital Flow Liberalization »

Source: Effects of Capital Flow Liberalization : What is the Evidence from Recent Experiences of Emerging Market Economies?

Volume/Issue: 2012/275

Series: IMF Working Papers

Author(s): Tahsin Saadi Sedik , and Tao Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2012

ISBN: 9781589068032

Keywords: Capital flow liberalization, emerging market economies, dynamic panel data specification, simulations, capital flow, capital adequacy, Models with Panel Data, Government Policy and Regulation,

This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability. The res...

Income and Democracy

Income and Democracy »

Source: Income and Democracy : Lipset's Law Revisited

Volume/Issue: 2012/295

Series: IMF Working Papers

Author(s): Anke Hoeffler , Robert H. Bates , and Ghada Fayad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

ISBN: 9781475596649

Keywords: democracy, dynamic panel data, parameter heterogeneity, cross-section dependence, time series, democratization, error correction coefficient, econometrics, political institutions, Models with Panel Data

We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relat...