Republic of Armenia : selected issues /
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| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2008. |
|---|---|
| Description: | 1 online resource : illustrations (some color). |
| Language: | English |
| Series: | IMF country report ; no. 08/375 IMF country report ; no. 08/375. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12495609 |
Table of Contents:
- Cover; Contents; Executive Summary; I. Enhancing Fiscal Policy in Armenia; A. Background; B. The Importance of a Consistent Fiscal Framework; Measuring the Fiscal Stance; Determining the Impact of Fiscal Policy: the "Fiscal Impulse"; Figures; I.1. Fiscal Stance; I.2. Government Spending Shock; I.3. Labor Market Response to a Government Spending Shock; I.4. Response of Economic Activity to a Government Spending Shock; Estimating a Cyclically-Adjusted Fiscal Balance; I.5. Potential Output (Annual Data); I.6. Potential Output (Annualized Quarterly Data); I.7. Cyclical Adjustment to Tax Revenues.
- I.8. Cyclical Adjustment to Government SpendingI. 9. Cyclically Adjusted Underlying Fiscal Balance; I.10. Cyclical Adjustment to Underlying Fiscal Balance; Macro-Fiscal Unit; I.11. Fiscal Stance Revisited; C. Conclusion; References; II. Smoothing Exchange Rate or Fuelling Inflation: What are the Effects of Foreign Exchange Market Intervention in Armenia?; A. Introduction; II. 1. Exchange Rate and Foreign Exchange Market Intervention; B. Foreign Exchange Market Trends and Intervention Policies; II. 2. Foreign Exchange Market Characteristics.
- II. 3. Financial Dedollarization and Cash Dollar HoldingsC. Econometric Investigation; Data; Methodology; Tables; II. 1. Summary Statistics; Results; II. 2. Determinants of CBA Foreign Exchange Intervention; II. 3. Impact of CBA Intervention on the Level of the Exchange Rate; II. 4. Impact of CBA Intervention on Deviations from Exchange Rate Trend; D. Consistency of Exchange Rate and Monetary Policies; II. 4. Intervention, Money Growth, and Inflation; E. Conclusion; References; III. Exchange Rate Appreciation and External Competitiveness in Armenia; A. Introduction; B. Recent External Developments.
- III. 1. Net Investment PositionIII. 2. External Balance; III. 3. REER and NEER (1995-2007); C. Exchange Rate Assessment; Purchasing Power Parity (PPP) Approach; III. 4. Unit Labor Costs: Average Annual Wage Bill/Nominal GDP; III. 5. Local Price Level Relative to U.S. Price Level; III. 6. Relative Price Levels and Relative Incomes (2004); Behavioral Equilibrium Real Exchange Rate (BEER) Approach; III. 7. Equilibrium and Actual Real Exchange Rate (PPP Approach); III. 8. Actual and Estimated Equilibrium REER (Equation 1); External Sustainability (ES) Approach; Macroeconomic Balance (MB) Approach.
- D. Exchange Rate Pass-Through and Domestic CompetitionIII. 9. Impulse Responses of Import Prices to NEER Shocks; III. 10. Exchange Rate Pass-Through to Import Prices; E. Structural Competitiveness; III. 11. Speed of Exchange Rate Pass-Through to Import Prices; III. 1. Selected Countries Rankings in the Business Environment Database (2006-08); F. Conclusions; III. 2. Global Competitiveness Index Ranking and Score, 2007-08; References.