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  • Keywords: terms of trade x
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Financial Deepening, Terms of Trade Shocks, and Growth Volatility in Low-Income Countries

Financial Deepening, Terms of Trade Shocks, and Growth Volatility in Low-Income Countries »

Journal Issue

Volume/Issue: 2019/68

Series: IMF Working Papers

Author(s): Kangni Kpodar , Maelan Le Goff , and Raju Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2019

DOI: http://dx.doi.org/10.5089/9781498303569.001

ISBN: 9781498303569

Keywords: Financial sector development, Economic stabilization, Real sector, International capital markets, Terms of trade, Banks, stock markets, terms of trade shocks, growth volatility, volatility

This paper contributes to the literature by looking at the possible relevance of the structure of the financial system-whether financial intermediation is performed through banks or markets-for macroeconomic volati...

External Imbalances in the Euro Area

External Imbalances in the Euro Area »

Journal Issue

Volume/Issue: 2012/236

Series: IMF Working Papers

Author(s): Ruo Chen , Gian Milesi-Ferretti , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2012

DOI: http://dx.doi.org/10.5089/9781475524673.001

ISBN: 9781475524673

Keywords: Europe, euro area, external imbalances, financial integration, terms of trade shocks, trading partner, trading partners, trade shocks, commodity exporters, domestic demand

The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the risin...

Determinants of Growth Spells : Is Africa Different?

Determinants of Growth Spells : Is Africa Different? »

Journal Issue

Volume/Issue: 2012/227

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

DOI: http://dx.doi.org/10.5089/9781475510225.001

ISBN: 9781475510225

Keywords: International Growth, survival analysis, robustness, Bayesian Model Averaging, terms of trade, inflation, trade growth, per capita income, Macroeconomic Analyses of Economic Development, Economic Growth and Aggregate Productivity: General

Do growth spells in Africa end because of bad realizations of the same factors that influence growth spells in the rest of the world, or because of different factors altogether? To answer this question, we examine...

Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach

Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach »

Journal Issue

Volume/Issue: 2012/149

Series: IMF Working Papers

Author(s): Francis Vitek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504187.001

ISBN: 9781475504187

Keywords: Monetary policy analysis, Fiscal policy analysis, Spillover analysis, World economy, Panel unobserved components model, Bayesian econometrics, inflation, domestic demand, terms of trade, price inflation

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a...

An End to China's Imbalances?

An End to China's Imbalances? »

Journal Issue

Volume/Issue: 2012/100

Series: IMF Working Papers

Author(s): Ashvin Ahuja , Nigel Chalk , Nathan Porter , Papa N'Diaye , and Malhar Nabar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

DOI: http://dx.doi.org/10.5089/9781475502909.001

ISBN: 9781475502909

Keywords: Exchange rate appreciation, China, Current account, Current account balances, Global imbalances, Terms of trade, current account surplus, current account balance, trading partners

Global imbalances have been a central theme of the international economic policy debate for much of the last decade, prompted by large and sustained current account deficits in the U.S. and counterpart surpluses in...

Global Rebalancing : Implications for Low-Income Countries

Global Rebalancing : Implications for Low-Income Countries »

Journal Issue

Volume/Issue: 2011/239

Series: IMF Working Papers

Author(s): Yongzheng Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463922610.001

ISBN: 9781463922610

Keywords: Global Rebalancing, low-income countries, terms of trade, commodity exporters, manufactured exports, exporters, export expansion, Macroeconomic Aspects Of International Trade And Finance, Economywide Country Studies,

While global rebalancing will mainly involve structural realignment among major advanced and emerging market economies, it could have significant impact on low-income countries (LICs). Simulations using a global ge...

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia »

Journal Issue

Volume/Issue: 2011/46

Series: IMF Working Papers

Author(s): Damiano Sandri , Pau Rabanal , and Isabelle Mejean

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

DOI: http://dx.doi.org/10.5089/9781455218967.001

ISBN: 9781455218967

Keywords: Rebalancing, Intermediate Inputs, terms of trade, tradable goods, exchange rate, export prices, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the...

Inflation Targeting and the Crisis : An Empirical Assessment

Inflation Targeting and the Crisis : An Empirical Assessment »

Journal Issue

Volume/Issue: 2010/45

Series: IMF Working Papers

Author(s): Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

DOI: http://dx.doi.org/10.5089/9781451963045.001

ISBN: 9781451963045

Keywords: economic crisis, inflation, terms of trade, real interest rates, Macroeconomics and Monetary Economics: General, Business Fluctuations, And Cycles, money And Interest Rates,

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of establishing the stylized facts that will guide and motivate future research. We find that since August...

Global Imbalances and Petrodollars

Global Imbalances and Petrodollars »

Journal Issue

Volume/Issue: 2009/89

Series: IMF Working Papers

Author(s): Fuad Hasanov , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

DOI: http://dx.doi.org/10.5089/9781451872361.001

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...

What Makes Growth Sustained?

What Makes Growth Sustained? »

Journal Issue

Volume/Issue: 2008/59

Series: IMF Working Papers

Author(s): Jonathan Ostry , Andrew Berg , and Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

DOI: http://dx.doi.org/10.5089/9781451869217.001

ISBN: 9781451869217

Keywords: Growth, Accelerations, Structural Breaks, terms of trade, inflation, terms of trade shocks, external shocks, trade shocks,

We identify structural breaks in economic growth in 140 countries and use these to define "growth spells:" periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sam...