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Business and Economics > Production and Operations Management

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions x
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Cover IMF Working Papers
Inflation Dynamics in Asia: Causes, Changes, and Spillovers From China
Ms. Carolina Osorio Buitron
and
Ms. Filiz D Unsal
The perception that Asia's inflation dynamics is driven by idiosyncratic supply shocks implies, as a corollary, that there is little scope for a policy reaction to a build-up of inflationary pressures. However, Asia's fast growth and integration over the last two decades suggest that the drivers of inflation may have changed, and that domestic demand pressures may now play a larger role than in the past. This paper presents a quantitative analysis of inflation dynamics in Asia using a Global VAR (GVAR) model, which explicitly incorporates the role of regional and global spillovers in driving Asia's inflation. Our results suggest that over the past two decades the main drivers of inflation in Asia have been monetary and supply shocks, but also that, in recent years, the contribution of these shocks has fallen, whereas demand-side pressures have started to emerge as an important contributor to inflation in Asia.
Keywords:
WP; inflation dynamics; Inflation; Global VAR (GVAR); Monetary Policy; inflation fluctuation; producer price inflation; inflation spillover; spillovers from China; inflation process; Commodity prices; Spillovers; Supply shocks; Output gap; Asia and Pacific; Global
Cover IMF Working Papers
The Location of Domestic and Foreign Production Affiliates by French Multinational Firms
Ms. Isabelle Mejean
,
Thierry Mayer
, and
Benjamin Nefussi
Economists interested in location choices usually focus their attention on investments abroad. This neglects the fact that multinational enterprises continue to invest domestically while undertaking foreign expansion. This paper compares investments at home and abroad. Our firm-level dataset shows an important home bias in productive investments. Part of this "excessive" domestic investment is explained by standard determinants of location choices. The interdependence between affiliates of the same industrial group however accounts for the lion's share of the home bias. Moreover, French firms' propensity to invest abroad is positively related to their productivity and the size of their intangible assets.
Keywords:
WP; fixed cost; standard deviation; dependent variable; investing firm; Location choice; Multinational firms; Conditional logit model; network variable; firm level; multi-national firm; input-producing firm; production establishment; firm's network; choices of affiliate location; Foreign direct investment; Transnational corporations; Productivity; Logit models; Employment; Europe
Cover IMF Working Papers
Fixed Capital Adjustment: Is Latin America Different? Evidence from the Colombian and Mexican Manufacturing Sectors
Mr. R. G Gelos
and
Mr. Alberto Isgut
This paper examines capital adjustment patterns using two large and largely novel data sets from the manufacturing sectors of Colombia and Mexico. The findings show that investment patterns in these countries resemble those reported for the United States to a surprising extent. Capital adjustments beyond maintenance investment occur only rarely, but large spikes account for a significant fraction of total investment. Although duration models do not provide strong evidence for the presence of substantial fixed costs, nonparametric adjustment function estimates reveal the presence of irreversibilities in investment. These irreversibilities are important for understanding aggregate investment behavior.
Keywords:
WP; investment rate; investment spike; capital stock; equipment investment; hazard function; Investment; lumpiness; irreversibilities; nonconvexities; manufacturing; panel data; investment episode; Stocks; Logit models; Producer price indexes; Productivity