[PDF] Top 20 Measuring the Stance of Monetary Policy in a Small Open Economy: A Dynamic Stochastic General Equilibrium Approach

... a dynamic stochastic general equilibrium model of a small open economy which provides a quantitative description of the monetary transmission mechanism, yields a ... See full document

... ensures stochastic nonsingularity of the resulting approximate linear state space representation of the DSGE model, as associated with each observed nonpredetermined endogenous variable is at least one exogenous ... See full document

... Afghanistan's economy through the state treasury, have become current expenditures in the country rather than investment in infrastructures and production, due to the lack of efficient management and lack of ... See full document

... alternate approach that allowed for time-varying portfolio in the DSGE ...a general formula for entire range of assets that is compatible with DSGE ...a small open economy framework and ... See full document

... ary policy in Nigeria have been influenced by t he general m acroeconom ic env ironm ent such as t he st ance of fiscal ...ary policy fram eworks exchange rat e t arget ing ( 1959 – 1973) and m onet ... See full document

... with dynamic relationships between economic growth and income and wealth ...subsidy policy on human capital and ...alternative approach to household ... See full document

... analyzing open economy issues, this paper tilts toward the small open economy (SOE) ...the dynamic stochastic general equilibrium (DSGE) model and derives ... See full document

... closed economy which approximately accounts for the empirical evidence concerning the monetary transmission mechanism, as summarized by impulse response functions derived from an estimated SVAR model, while ... See full document

... common stochastic trends include those of Altig, Christiano, Eichenbaum and Linde (2005) and An and Schorfheide ...or stochastic trends empirically inadequate representations of low frequency variation in ... See full document

... shadow economy for a large panel—60 years and over 150 countries, compared to the 9 observations found in Schneider et ...uses dynamic methods (as we do), we find that their estimates are potentially biased ... See full document

... the monetary economy effectively becomes a real economy and OMFP essentially becomes optimal fiscal ...fiscal policy in this paper, the same conclusion obtained in Persson and Svensson ... See full document

... for monetary policy to take into account the behaviour of fiscal policy and to also take into account how the presence of the fiscal sector affects the transmission mechanism of mone- tary ...between ... See full document

... for measuring the size and properties of the shadow ...two-sector dynamic deterministic general equilibrium model with four different trends: hours worked, investment-specific productivity, ... See full document

... Turkish economy also suggest that the NBR-to-TR ratio is not an appropriate measure of monetary policy ...tight monetary policy (except for few instances) and, excluding the role of the ... See full document

... a small open economy which produces and exports one type of commodity but which imports a commodity of an entirely different ...domestic economy produced and traded in a single (composite) ... See full document

... This paper extends this optimization view of fishey models to a DSGE approach. In par- ticular, a DSGE model is used to build a decentralized fishery where rational and forward- looking economic agents react to ... See full document

... We also assume that government bonds are perceived by their holders as net wealth, i.e., bond holders do not take into account in accessing their wealth the taxation which must be levied[r] ... See full document

... If interest rates act through the money supply, the extent of feed through onto money demand will reflect the demand for transaction balances. If the elasticity of demand for transaction balances is low, then a ... See full document

... Terms of trade shocks induce a temporary acceleration of output growth and inflation, particularly within the first two months, a temporary though not significant improvement of the curr[r] ... See full document

... positive investment and non-oil production show a negative response to the depreciation of the euro against the dollar. Because the price of oil is expressed in dollars, the very high contribution of the oil sector to ... See full document