A small structural monetary policy model for small open economies with debt accumulation /
Saved in:
| Author / Creator: | Karam, Philippe D., author. |
|---|---|
| Imprint: | [Washington, D.C.?] : International Monetary Fund, ©2008. |
| Description: | 1 online resource (22 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper, 2227-8885 ; WP/08/64 IMF working paper ; WP/08/64. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496528 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.08/64 | |
| 100 | 1 | |a Karam, Philippe D., |e author. |0 http://id.loc.gov/authorities/names/no2003090212 | |
| 245 | 1 | 2 | |a A small structural monetary policy model for small open economies with debt accumulation / |c prepared by Philippe Karam and Adrian Pagan. |
| 260 | |a [Washington, D.C.?] : |b International Monetary Fund, |c ©2008. | ||
| 300 | |a 1 online resource (22 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/08/64 | |
| 500 | |a "March 2008." | ||
| 504 | |a Includes bibliographical references (page 22). | ||
| 520 | 3 | |a 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. | |
| 500 | |a At head of title: IMF Institute. | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a 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. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a I. Introduction; II. The Design of the BKL Model; III. Extending the BKL Model; IV. An Illustration of the EBKL Model; A. Calibrating EBKL to the Canadian Economy; Figures; 1. Plot of GNE and GDP Gaps; 2. Average Growth Rate of Imports Less Long-Run Growth in GDP; 3. Average Growth Rate of Exports Less Long-Term; 4. Plot of Export Regression Predictions Against US Ouput Gap Along with 1.5*USGAP; Tables; 1. Structural Parameter Estimates for Canada; 2. Parameter Values for Shocks; 3. Variances of Data and Model Variables; B. Experiments with the Calibrated EBKL Model. | |
| 505 | 8 | |a 5. Impact of Interest Rate Shock on GNE and GDP gaps6. Effects of Interest Rate Shock on Inflation with and without Risk Premium; 7. Effects of Terms of Trade Shock on GDP gap with complete Foreign or Domestic Denominated Debt; 8. Effects on Debt Ratio of Terms of Trade Shock with Full Foreign or Domestically Denominated Debt; V. Conclusion; Appendix; EBKL versus the Stylized Equations; References. | |
| 546 | |a English. | ||
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 0 | |a Economic forecasting. |0 http://id.loc.gov/authorities/subjects/sh85040814 | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 6 | |a Prévision économique. | |
| 650 | 7 | |a Economic forecasting. |2 fast |0 (OCoLC)fst00901942 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Pagan, A. R., |e author. |0 http://id.loc.gov/authorities/names/n81066977 | |
| 710 | 2 | |a IMF Institute. |0 http://id.loc.gov/authorities/names/n81065613 | |
| 710 | 2 | |a International Monetary Fund. |0 http://id.loc.gov/authorities/names/n81052755 | |
| 776 | 0 | 8 | |i Print version: |a Karam, Philippe D. |t Small structural monetary policy model for small open economies with debt accumulation. |d [Washington, D.C.?] : International Monetary Fund, ©2008 |w (OCoLC)226047805 |
| 830 | 0 | |a IMF working paper ; |v WP/08/64. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2008/064/001.2008.issue-064-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.08/64 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2008/064/001.2008.issue-064-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12140557 | ||