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Business and Economics > Production and Operations Management

You are looking at 1 - 10 of 15 items for :

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Cover IMF Staff Papers
IMF Staff Papers, Volume 56, No. 4
International Monetary Fund. Research Dept.
This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.
Keywords:
SP; default episode; home terms of trade; terms-of-trade shock; terms-of-trade response; productivity gain; debt projection; Monetary unions; Total factor productivity; Real effective exchange rates; Trade credits; Stock markets; Africa; Global; Caribbean; Baltics; Southeast Asia
Cover IMF Staff Papers
IMF Staff Papers, Volume 56, No. 2
International Monetary Fund. Research Dept.
China’s growth performance since the start of economic reforms in 1978 has been impressive, but the gains have not been distributed equally across provinces. We use a nonparametric approach to analyze the variation in labor productivity growth across China’s provinces. This approach imposes less structure on the data than the standard growth accounting framework and allows for a breakdown of labor productivity into efficiency gains, technological progress, and capital deepening. We have the following results. First, we find that on average capital deepening accounts for about 75 percent of total labor productivity growth, while efficiency and technological improvements account for about 7 and 18 percent, respectively. Second, technical change is not neutral. Third, whereas improvement in efficiency contributes to convergence in labor productivity between provinces, technical change contributes to productivity disparity across provinces. Finally, we find that foreign direct investment has a positive and significant effect on efficiency growth and technical progress.
Keywords:
SP; market risk aversion; yen carry trade; financial market liquidity; links carry trades; United States-Japan; financial market condition; Emerging and frontier financial markets; Labor productivity; Financial statements; Spillovers; Capital productivity; Global; Middle East; Caribbean; Asia and Pacific; East Asia
Cover IMF Staff Papers
IMF Staff Papers, Volume 55, No. 2
International Monetary Fund. Research Dept.
This special issue is devoted to the Global Economy Model (GEM), a dynamic stochastic general equilibrium models widely used by the IMF and central banks worldwide to study issues that cannot be adequately addressed with reduced-form econometric models or an earlier generation of macromodels whose dynamic equations were not based on strong choice-theoretic foundations. Douglas Laxton discusses the GEM philosophy and explains how its modelers find solutions to their systems of nonlinear equations. Paolo Pesenti then lays out the structure of model in detail, explaining how the various equations in GEM are derived from individual and firm-level self-interested maximizing behavior and how individual decisions interact with government policy rules. The remaining six papers are specific applications of the GEM structure to a variety of real problems and policy issues.
Keywords:
SP; nominal interest rate; PLPT; energy price; NM economy; oil-importing region; oil price; adjustment cost; Inflation; Oil prices; Consumption; Energy prices; Global; Asia and Pacific; Europe; Central and Eastern Europe
Cover IMF Staff Papers
IMF Staff Papers, Volume 54, No. 1
International Monetary Fund. Research Dept.
This is the first issue of IMF Staff Papers published under a special partnership between the IMF and Palgrave Macmillan. Very little will change with regard to the journal's visual appearance, though significant service quality enhancements (e.g., an on-line interactive edition) will rollout before the end of 2007. For more information and regular updates, please access http://www.palgrave-journals.com/imfsp/index.html.
Keywords:
SP; forecast error; distance coefficient; commodity price shock; core inflation measure; adjustment effort; Commodity price shocks; Inflation; Employment; Commodity price fluctuations; Employment rate; Central and Eastern Europe; Western Hemisphere; Middle East; Africa; Asia and Pacific
Cover IMF Staff Papers
IMF Staff Papers, Volume 53, No. 2
International Monetary Fund. Research Dept.
Noteworthy among the six papers appearing in this latest issue of the IMF's peer-reviewed journal is another installment in the Special Data Section. Anthony Pellechio and John Cady from the IMF's Statistics Department take a close look at differences in IMF data; how and when they could occur; and what the implications of such differences might be for end-users of the IMF's data.
Keywords:
SP; knowledge production function; external finance premium; BCP compliance; interest margin; debt intolerance; Total factor productivity; Stocks; Exchange rates; Basel Core Principles; Global; Africa; Asia and Pacific; Eastern Europe; East Asia; Middle East
Cover IMF Staff Papers
IMF Staff Papers, Volume 52, No. 2
International Monetary Fund. Research Dept.
This paper examines contractionary currency crashes in developing countries. It explores the causes of India’s productivity surge around 1980, more than a decade before serious economic reforms were initiated. The paper finds evidence that the trigger may have been an attitudinal shift by the government in the early 1980s that, unlike the reforms of the 1990s, was pro-business rather than pro-market in character, favoring the interests of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity response, because India was far away from its income possibility frontier.
Keywords:
SP; central bank; inflation objective; balance of payments crisis; economic growth rate; central bank profitability; central bank recapitalization; household investment; Fiscal stance; Consumption; Financial statements; International reserves; Capital adequacy requirements; East Asia; Middle East; Sub-Saharan Africa; Australia and New Zealand; Global
Cover IMF Staff Papers
IMF Staff Papers, Volume 52, No. 1
International Monetary Fund. Research Dept.
This first issue of IMF Staff Papers for 2005 contains 7 papers that discuss: whether output recovered after the Asian crisis; the value of a country's trading partners to its own economic growth; whether interdependence is a factor in understanding the spread of currency crises; can remittance payments from expatriates be a reliable source of capital for economic development?; total factor productivity; designing a VAT for the energy trade in Russia and Ukraine; and lastly, a discussion of the reasons for central bank intervention in ERM-I since 1993
Keywords:
SP; trading partner; worker remittance; TFP estimate; crisis probability; recession state; output loss; Exchange rates; Remittances; Conventional peg; Value-added tax; Total factor productivity; Global; Baltics; East Asia; Middle East; North Africa; Central Asia; Sub-Saharan Africa; Europe
Cover IMF Staff Papers
IMF Staff Papers, Volume 51, No. 2
International Monetary Fund. Research Dept.
This second issue for 2004 contains 8 new papers, including notable contributions from: Nancy Brune, Geoffrey Garrett, and Bruce Kogut on the global spread of privatization; and Mark P. Taylor and Elena T. Branson on asymmetric arbitrage and default premiums in the U.S. and Russian markets. Other papers in the issue look at German wage structures, contagion in equity markets, export orientation and productivity in Sub-Saharan Africa, the role of higher vs. basic education in economic development, and issues related to capital account liberalization.
Keywords:
SP; bull market contagion; no-arbitrage band; capital account openness; productivity premium; bear market contagion; Capital account; Capital account liberalization; Stock markets; Productivity; Africa; East Asia; Global; Sub-Saharan Africa; Europe; Asia and Pacific
Cover IMF Staff Papers
IMF Staff Papers, Volume 47, No. 1
International Monetary Fund. Research Dept.
This paper discusses the origins of the pyramid schemes and the way the authorities handled them. The paper analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes’ collapse, their direct effects on the economy are difficult to specify and appear to have been limited. The paper also argues that prevention of pyramid schemes is better than cure and that government and international financial institutions should be vigilant in clamping down on frauds.
Keywords:
SP; productivity growth; fund price; annuity market; TFP growth rate; TFP growth; fund discount; Total factor productivity; Productivity; Real exchange rates; Securities; Asia and Pacific; East Asia; Sub-Saharan Africa; South Asia; North Africa
Cover IMF Staff Papers
IMF Staff Papers, Volume 46, No. 1
International Monetary Fund. Research Dept.
This economic journal contains theoretical and empirical analyses of varous macroeconomic issues. The studies are prepapred by IMF research staff or consultants. Subjects covered inclulde balance of payments and exchange rates, monetary systems and policies, public finances, international trade, economic growth, and some sectoral analyses. The last issue of the year contains an index to the volume. Approximately 200 pages in each issue.
Keywords:
SP; trill ion; crop year; nominal exchange rate regime; statistical data; trade share; total of the year; Capital controls; Exchange restrictions; Real exchange rates; Manufacturing; Unemployment; Europe; East Asia; Africa; Global; Central and Eastern Europe