On the Accuracy and Efficiency of IMF Forecasts: A Survey
... and Development (OECD), national central banks or treasuries, and private sector bodies. Such comparisons usually employ measures such as the mean absolute error, mean square error, or the root mean square error, and can provide useful indicators of which forecasts are most accurate at the time they ...
... and Development (OECD), national central banks or treasuries, and private sector bodies. Such comparisons usually employ measures such as the mean absolute error, mean square error, or the root mean square error, and can provide useful indicators of which forecasts are most accurate at the time they ...
Purchasing Power Parities and Real Expenditures
... The International Comparison Program (ICP) is a global statistical initiative set up on the recommendation of the United Nations Statistical Commission to enable comparisons of economic aggregates. From a modest beginning with just 10 economies participating in 1970, the ICP has expanded to cover 19 ...
... The International Comparison Program (ICP) is a global statistical initiative set up on the recommendation of the United Nations Statistical Commission to enable comparisons of economic aggregates. From a modest beginning with just 10 economies participating in 1970, the ICP has expanded to cover 19 ...
Inflation Inertia in Egypt and its Policy Implications
... lower domestic savings by deeply negative real interest rates, lower capital accumulation due to increased uncertainty, and real appreciation of the exchange rate reflecting widened inflation differentials against trade partners. While it is important for a central bank to keep inflation low and sta ...
... lower domestic savings by deeply negative real interest rates, lower capital accumulation due to increased uncertainty, and real appreciation of the exchange rate reflecting widened inflation differentials against trade partners. While it is important for a central bank to keep inflation low and sta ...
Transition Report 2007: People in transition
... continuing to meet the twin objectives of access for all and affordability. Private funding can be made available at both centralised and local levels but what can be achieved depends crucially on the quality of the legal and political frameworks. Good procurement processes need to be in place to re ...
... continuing to meet the twin objectives of access for all and affordability. Private funding can be made available at both centralised and local levels but what can be achieved depends crucially on the quality of the legal and political frameworks. Good procurement processes need to be in place to re ...
Workers` Remittances and Borrowing Constraints in Recipient
... These currency transfers sent by migrants to their family stayed in the home country are exponentially growing and have reached significant levels, particularly at the scale of GDP in developing countries. According to Chami and Fullenkamp (2013) [14], remittances represented in 2011 more than 1% of ...
... These currency transfers sent by migrants to their family stayed in the home country are exponentially growing and have reached significant levels, particularly at the scale of GDP in developing countries. According to Chami and Fullenkamp (2013) [14], remittances represented in 2011 more than 1% of ...
The Effect of IMF Programs on Inequal
... In the empirical part of the paper I focus on the loan programs administered by the IMF to test these hypotheses. The IMF is often considered “the most powerful international institution in history” (Stone 2002, 1). It has vast financial resources at its disposal and its loan arrangements can make ...
... In the empirical part of the paper I focus on the loan programs administered by the IMF to test these hypotheses. The IMF is often considered “the most powerful international institution in history” (Stone 2002, 1). It has vast financial resources at its disposal and its loan arrangements can make ...
AN ANALYSIS OF CUBA`S POST-SOVIET ECONOMIC REFORMS
... The transportation and telecommunications sectors experienced ...
... The transportation and telecommunications sectors experienced ...
IMF Reform Is Waiting on the United States
... The vital role played by the IMF in stabilizing the world economy and financial system is in serious jeopardy. national security interests, for example, in Korea in 1997–98, in Ukraine today, and potentially in Egypt and other countries where US interests are at stake. Third, as the principal founde ...
... The vital role played by the IMF in stabilizing the world economy and financial system is in serious jeopardy. national security interests, for example, in Korea in 1997–98, in Ukraine today, and potentially in Egypt and other countries where US interests are at stake. Third, as the principal founde ...
55838_Ch 07_Executive Board Summary.indd
... fiscal adjustment. However, high public and private debt levels continue to pose headwinds to growth and debt sustainability in some advanced economies. In addition, inflation is below target by a large margin in many countries, making the task of reducing high public debt levels more difficult. Gro ...
... fiscal adjustment. However, high public and private debt levels continue to pose headwinds to growth and debt sustainability in some advanced economies. In addition, inflation is below target by a large margin in many countries, making the task of reducing high public debt levels more difficult. Gro ...
Does the shift of FDI from manufacturing to services accelerate
... because of its anticipated spillovers on economic growth, which make it a stable development engine. Growth oriented governments of emerging economies and developing countries have been competing to entice foreign capital with various attractive schemes. Now FDI stands as the most important foreign ...
... because of its anticipated spillovers on economic growth, which make it a stable development engine. Growth oriented governments of emerging economies and developing countries have been competing to entice foreign capital with various attractive schemes. Now FDI stands as the most important foreign ...
This PDF is a selection from a published volume from
... been positive. Average inflation in both emerging markets and developed economies is substantially lower after the adoption of the inflationtargeting regime than immediately before its adoption (Figure I).1 However, emerging market economies (EMEs) have had a relatively worse performance. In these c ...
... been positive. Average inflation in both emerging markets and developed economies is substantially lower after the adoption of the inflationtargeting regime than immediately before its adoption (Figure I).1 However, emerging market economies (EMEs) have had a relatively worse performance. In these c ...
NBER WORKING PAPER SERIES GROWTH FORECAST ERRORS AND FISCAL MULTIPLIERS Daniel Leigh
... and that investment may have depended more on current than on future profits, with both effects leading to larger multipliers (Eggertsson and Krugman, 2012).4 Third, and consistent with some of the above mechanisms, a number of empirical studies have found that fiscal multipliers are likely to be la ...
... and that investment may have depended more on current than on future profits, with both effects leading to larger multipliers (Eggertsson and Krugman, 2012).4 Third, and consistent with some of the above mechanisms, a number of empirical studies have found that fiscal multipliers are likely to be la ...
hep03-baten 222864 en
... market disequilibria could lead to higher incomes of some social groups with better skills or more direct access to profitable information (for example, the inhabitants of the capital could be better informed). We will therefore put the hypothesis to the empirical test, controlling for as much other ...
... market disequilibria could lead to higher incomes of some social groups with better skills or more direct access to profitable information (for example, the inhabitants of the capital could be better informed). We will therefore put the hypothesis to the empirical test, controlling for as much other ...
II. IMF Macroeconomic Policy Advice in the Financial Crisis
... policy, irrespective of its ability to maintain low interest rates or raise asset prices. By contrast, a large body of analysis, including from the IMF itself, indicated that fiscal multipliers would be elevated following the crisis, pointing to the enhanced power relative to the pre-crisis environm ...
... policy, irrespective of its ability to maintain low interest rates or raise asset prices. By contrast, a large body of analysis, including from the IMF itself, indicated that fiscal multipliers would be elevated following the crisis, pointing to the enhanced power relative to the pre-crisis environm ...
Standing in the way of development?
... US$ 17 billion in 2014. These sums represent sizeable increases from its total lending commitments of US$1.6 billion in 2008 (IMF 2009a, p. 6).3 This projected expansion departs from a previously downward trend in the LIC use of IMF facilities, as cumulative disbursements (through all facilities) to ...
... US$ 17 billion in 2014. These sums represent sizeable increases from its total lending commitments of US$1.6 billion in 2008 (IMF 2009a, p. 6).3 This projected expansion departs from a previously downward trend in the LIC use of IMF facilities, as cumulative disbursements (through all facilities) to ...
Emigrants` remittances and economic growth in small transition
... to decline as a percentage of GDP (Luecke et.al., 2009: 5). They fell even more in 2009, during the global economic crisis. Comparing the size of remittances between the two countries, it is quite clear that Moldova is more dependent on remittances, since they have reached up to 34% of its GDP, alth ...
... to decline as a percentage of GDP (Luecke et.al., 2009: 5). They fell even more in 2009, during the global economic crisis. Comparing the size of remittances between the two countries, it is quite clear that Moldova is more dependent on remittances, since they have reached up to 34% of its GDP, alth ...
Preferences, Purchasing Power Parity, and
... There are several reasons for the divergence between the market exchange rates and the PPP rates (however measured). The short term factors include the capital movements between countries, interest rate movements, speculation in foreign exchange markets, etc. The longer term factors include the fact ...
... There are several reasons for the divergence between the market exchange rates and the PPP rates (however measured). The short term factors include the capital movements between countries, interest rate movements, speculation in foreign exchange markets, etc. The longer term factors include the fact ...
Effects of Corruption on FDI Inflow in Asian Economies - S
... increase and leads to a reduction of the incremental output capital ratio of the activity or sector. Consequently, an increase in corruption lowers the efficiency of investment (Mauro 1995). The volume and productivity of investment increase when corruption is reduced. Resources spent on this area c ...
... increase and leads to a reduction of the incremental output capital ratio of the activity or sector. Consequently, an increase in corruption lowers the efficiency of investment (Mauro 1995). The volume and productivity of investment increase when corruption is reduced. Resources spent on this area c ...
Afghanistan in Transiition.pdf
... been truer than now. The withdrawal of most international troops by 2014 will have a profound and lasting effect on the country’s economic and development fabric. This study explores some of those effects. This book, which was originally issued as a World Bank report in May 2012,1 provides the analy ...
... been truer than now. The withdrawal of most international troops by 2014 will have a profound and lasting effect on the country’s economic and development fabric. This study explores some of those effects. This book, which was originally issued as a World Bank report in May 2012,1 provides the analy ...
Trade and Development Report, 2012
... Real GDP growth and contributions of net exports and domestic demand, selected country groups, 2006–2012............................................................................................. 18 Current-account balances, selected countries and country groups, 2005–2012....................... ...
... Real GDP growth and contributions of net exports and domestic demand, selected country groups, 2006–2012............................................................................................. 18 Current-account balances, selected countries and country groups, 2005–2012....................... ...
Interlinkages between Growth, Distribution and Re
... Economists and political leaders alike have been sounding alarm bells over rising income inequality across economies, their fear only worsened by the 2008 financial crisis. While many analysts still hold that economic weakness caused by income inequality led to the crisis, the issue of the relations ...
... Economists and political leaders alike have been sounding alarm bells over rising income inequality across economies, their fear only worsened by the 2008 financial crisis. While many analysts still hold that economic weakness caused by income inequality led to the crisis, the issue of the relations ...
The Diffusion of Privatization in the Developing World
... the inevitable result of the hegemonic power of capital and the United States. For both, countries that have not marketized are not particularly interesting because, in time, they too will join the bandwagon. Most political scientists and sociologists, in contrast, are concerned to look for more pre ...
... the inevitable result of the hegemonic power of capital and the United States. For both, countries that have not marketized are not particularly interesting because, in time, they too will join the bandwagon. Most political scientists and sociologists, in contrast, are concerned to look for more pre ...
Prof. Eytan Sheshinski
... Privatization has been a key component of structural reform programs in both developed and developing economies. The aim of such programs is to achieve higher microeconomic efficiency and foster economic growth, as well as reduce public sector borrowing requirements through the elimination of unnece ...
... Privatization has been a key component of structural reform programs in both developed and developing economies. The aim of such programs is to achieve higher microeconomic efficiency and foster economic growth, as well as reduce public sector borrowing requirements through the elimination of unnece ...
Vote of confidence in the promise of ASEAN www.pwc.com/apec The ASEAN cut
... ongoing negotiations to promote free trade and economic integration between economies and trade blocs did not seem to impress as many business leaders in the 7 APEC economies in ASEAN, a signal to governments that they do not foresee the red tapes and policy hindrances which still persist in limitin ...
... ongoing negotiations to promote free trade and economic integration between economies and trade blocs did not seem to impress as many business leaders in the 7 APEC economies in ASEAN, a signal to governments that they do not foresee the red tapes and policy hindrances which still persist in limitin ...
Price level targeting, the zero bound on the nominal interest rate and
... understand the implications of this regime and form their expectations accordingly. This assumption, however, may be particularly weak during the transition to a new policy regime since it is not unreasonable to think that private agents may take time to adjust their behavior. Walsh (2010), for inst ...
... understand the implications of this regime and form their expectations accordingly. This assumption, however, may be particularly weak during the transition to a new policy regime since it is not unreasonable to think that private agents may take time to adjust their behavior. Walsh (2010), for inst ...