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IMF Conditionality
			: Experience Under Stand-by and Extended Arrangements, Part I:  Key Issues and Findings

IMF Conditionality : Experience Under Stand-by and Extended Arrangements, Part I: Key Issues and Findings »

Series: Occasional Papers

Author(s): Louis Dicks-Mireaux , Miguel Savastano , Adam Bennett , María Carkovic S. , Mauro Mecagni , James John , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1995

DOI: http://dx.doi.org/10.5089/9781557754929.084

ISBN: 9781557754929

Keywords: inflation, terms of trade, capital inflows, exchange rate, real interest rates

This paper is Part I of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, r...

Macroeconomic and Sectoral Effects of Terms-of-Trade Shocks

Macroeconomic and Sectoral Effects of Terms-of-Trade Shocks »

Source: Macroeconomic and Sectoral Effects of Terms-of-Trade Shocks : The Experience of the Oil-Exporting Developing Countries

Volume/Issue: 1999/134

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1999

ISBN: 9781451855586

Keywords: Terms of trade, natural resources, Dutch Disease, natural-resource, trade shocks, terms-of-trade shocks, natural-resource sector

This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are largely importable or the labor supply is sufficiently elastic, then natural-resource booms inc...

The Terms of Trade and Economic Fluctuations

The Terms of Trade and Economic Fluctuations »

Source: The Terms of Trade and Economic Fluctuations

Volume/Issue: 1992/98

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

ISBN: 9781451852066

Keywords: terms of trade, correlation, standard deviation, import prices, statistics

A three-good, stochastic intertemporal equilibrium model of a small open economy is used to examine the link between terms of trade and business cycles. Equilibrium co-movements of model economies representing indu...

Nonlinear Effects of Inflationon Economic Growth

Nonlinear Effects of Inflationon Economic Growth »

Source: Nonlinear Effects of Inflationon Economic Growth

Volume/Issue: 1995/56

Series: IMF Working Papers

Author(s): Michael Sarel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1995

ISBN: 9781451968316

Keywords: effect of inflation, effects of inflation, inflation rate, terms of trade

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a significant structural break in the function that relates economic growth to inflation. The break is...

Estimating The Inflation-Growth Nexus-A Smooth Transition Model

Estimating The Inflation-Growth Nexus-A Smooth Transition Model »

Source: Estimating The Inflation-Growth Nexus-A Smooth Transition Model

Volume/Issue: 2010/76

Series: IMF Working Papers

Author(s): Raphael Espinoza , Ananthakrishnan Prasad , and Gene Leon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

ISBN: 9781451982190

Keywords: Growth, Phillips curve, Logistic Smooth Transition, effect of inflation, terms of trade, monetary fund,

Motivated by the global inflation episode of 2007-08 and concern that high levels of inflation could undermine growth, this paper uses a panel of 165 countries and data for 1960-2007 to revisit the nexus between in...

Global Imbalances and Petrodollars

Global Imbalances and Petrodollars »

Source: Global Imbalances and Petrodollars

Volume/Issue: 2009/89

Series: IMF Working Papers

Author(s): Fuad Hasanov , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872361

Keywords: Oil exporters, exporters, exporting countries, oil-exporting countries, terms of trade,

Oil exporters have run large current account surpluses. We explore oil exporters' role in our understanding and the resolution of global imbalances. Current account dynamics are estimated for oil-exporting countrie...

Four Decades of Terms-of-Trade Booms

Four Decades of Terms-of-Trade Booms »

Source: Four Decades of Terms-of-Trade Booms : Saving-Investment Patterns and a New Metric of Income Windfall

Volume/Issue: 2013/103

Series: IMF Working Papers

Author(s): Gustavo Adler , and Nicolas Magud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2013

ISBN: 9781484356241

Keywords: windfall, real income, aggregate saving, saving rate, trade shocks, trade shock, terms-of-trade shocks, domestic investment, Other, Open Economy Macroeconomics,

We study the history of terms-of-trade booms (during 1970–2012), with a focus on Latin America, through the prisms of a simple metric that quantifies the associated income windfall. We also document saving p...

Revisiting the Link Between Finance and Macroeconomic Volatility

Revisiting the Link Between Finance and Macroeconomic Volatility »

Source: Revisiting the Link Between Finance and Macroeconomic Volatility

Volume/Issue: 2013/29

Series: IMF Working Papers

Author(s): Era Dabla-Norris , and Narapong Srivisal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2013

ISBN: 9781475543988

Keywords: Financial Depth, Macroeconomic Volatility, private consumption, external shocks, trade openness, growth rate, terms of trade, Financial Markets and the Macroeconomy, Macroeconomic Analyses of Economic Development,

This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampe...

I Introduction and Summary

I Introduction and Summary »

Source: IMF Conditionality : Experience Under Stand-by and Extended Arrangements, Part I: Key Issues and Findings

Series: Occasional Papers

Author(s): Louis Dicks-Mireaux , Miguel Savastano , Adam Bennett , María Carkovic S. , Mauro Mecagni , James John , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1995

ISBN: 9781557754929

Keywords: inflation, terms of trade, capital inflows, exchange rate, real interest rates

Events of the late 1980s and early 1990s created an unusually high demand for IMF financial resources. The strains in the international economy during the 1980s—a sharp reduction in spontaneous external fina...

II The Setting for Adjustment: Initial Positions and Global Environment

II The Setting for Adjustment: Initial Positions and Global Environment »

Source: IMF Conditionality : Experience Under Stand-by and Extended Arrangements, Part I: Key Issues and Findings

Series: Occasional Papers

Author(s): Louis Dicks-Mireaux , Miguel Savastano , Adam Bennett , María Carkovic S. , Mauro Mecagni , James John , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1995

ISBN: 9781557754929

Keywords: inflation, terms of trade, capital inflows, exchange rate, real interest rates

Almost without exception, the initial positions of the countries under review were dire. Most were suffering the effects of long-standing institutional and structural weaknesses, fiscal excesses, and deficie...