Hidden Bibliographic Details
| Other authors / contributors: | Pagan, A. R., author.
IMF Institute.
International Monetary Fund.
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| ISBN: | 1282448218
9781282448216
9781451913798
1451913796
1462322514
9781462322510
145199334X
9781451993349
9786613821409
6613821403
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| Notes: | "March 2008."
At head of title: IMF Institute.
Includes bibliographical references (page 22).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | We extend a small New Keynesian structural model used for monetary policy analysis to address a richer class of policy issues that arise in open economy analysis. We draw a distinction between absorption and domestic output, and as the difference between the two is effectively the current account, there is now an explicit accumulation or decumulation of foreign liabilities in response to various shocks affecting the system. Such stock equilibria can now have an impact back on to the flows in the domestic economy. We perform simulations using parameters calibrated to the Canadian economy and compare the differences in impulse responses from the original model. Advantages in a forecasting environment owing to the ability to impose explicit projections about imports and exports are also exposed.
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| Other form: | Print version: Karam, Philippe D. Small structural monetary policy model for small open economies with debt accumulation. [Washington, D.C.?] : International Monetary Fund, ©2008
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| Standard no.: | 10.5089/9781451913798.001
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