X
feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
  • 1
    Online Resource
    Online Resource
    Business Cycles Accounting for Paraguay / (2015)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246517502883
    Format: 1 online resource (35 pages)
    Series Statement: Policy research working papers.
    Content: This study investigates the role of domestic and external shocks in business cycle fluctuations in Paraguay during 1991-2012. Time-series methods and a structural model-based approach are used to conduct an integrated analysis of business cycles. First, structural vector autoregression is used to assess the role played by external factors and domestic shocks in driving fluctuations in gross domestic product through impulse response functions and variance decompositions. The analysis finds that external shocks such as terms of trade, world interest rate and foreign demand account for over 50 percent of real gross domestic product fluctuations. Given Paraguay's strong dependence on agriculture, an analysis is also done for the agricultural and non-agricultural sectors separately. The analysis finds that non-agricultural gross domestic product is to a large extent driven by external shocks, which account for over 50 percent of its volatility. In contrast, the volatility in agricultural gross domestic product is primarily due to shocks to domestic variables, mainly shocks to agricultural output. A further difference between the sectors is that shocks to government consumption are more important for agricultural gross domestic product, while shocks to the domestic real interest rate play a larger role in the volatility of non-agricultural gross domestic product. Second, the paper investigates the sources of business cycle fluctuations through the lens of a neoclassical growth model with an agricultural and non-agricultural sector. The analysis finds some signs of improvements, as labor market distortions have declined, firms' access to credit improved, and agricultural efficiency rose over time. Nevertheless, challenges remain, as gaps in labor and capital returns between agriculture and non-agriculture remain large, efficiency in the non-agricultural sector shows no signs of improvement, and households' access to finance has deteriorated.
    Language: English
    DOI: 10.1596/1813-9450-7284
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 2
    Online Resource
    Online Resource
    Volatility and Growth (2004)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV049075413
    Format: 1 Online-Ressource
    Edition: Online-Ausg Also available in print
    Series Statement: Policy research working paper 3184
    Note: "January 7, 2004 , Includes bibliographical references , Title from title screen as viewed on January 7, 2004
    Additional Edition: Hnatkovska, Viktoria Volatility and Growth
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    HWR Berlin
    UB Potsdam
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
    MPI Bildungsforschung
  • 3
    Online Resource
    Online Resource
    Business Cycles in the Eastern Caribbean Economies : The Role of Fiscal Policy and Interest Rates (2016)
    Washington, D.C. :The World Bank,
    Details
    UID:
    almafu_9958143941702883
    Format: 1 online resource (32 pages)
    Series Statement: Policy research working papers.
    Content: This paper analyzes the business cycle characteristics of the economies of the Organization of Eastern Caribbean States using a model of a small open economy subject to interest rate and fiscal expenditure shocks and financial frictions. The paper shows that macroeconomic aggregates in this region are quite volatile, with consumption exhibiting higher volatility than gross domestic product. The analysis also finds that in these economies real interest rates are highly volatile and strongly countercyclical with gross domestic product and other macroeconomic aggregates. Similarly, fiscal expenditures show significant volatility, but are pro-cyclical with gross domestic product. The results suggest two major directions for designing policies to help reduce the volatility experienced by the Organization of Eastern Caribbean States economies. First, Organization of Eastern Caribbean States countries should seek a greater openness to international financial markets, which could help them smooth out the effects of fundamental shocks, such as shocks to technology and terms of trade, and shocks associated with natural hazards. However, this removal of international financial barriers needs to be accompanied by improvements in domestic financial conditions, as this would reduce the vulnerability of these economies to country risk premium shocks. Second, the Organization of Eastern Caribbean States region should try harder to move toward a countercyclical fiscal policy stance, as this could help to stabilize the domestic risk premium and cushion the negative effects of interest rate shocks on economic activity, hence reducing volatility.
    Language: English
    DOI: 10.1596/1813-9450-7545
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 4
    Online Resource
    Online Resource
    Characterizing Business Cycles in Small Economies / (2018)
    Washington, D.C. :The World Bank,
    Details
    UID:
    almafu_9958921567302883
    Format: 1 online resource (77 pages)
    Series Statement: Policy research working papers.
    Content: This paper aims to document a set of stylized facts characterizing business cycle dynamics in smaller economies. The paper uses a large sample of countries spanning 1960-2014 to show that country size is a significant factor affecting countries' volatility, comovement with gross domestic product and real interest rate, and persistence. Specifically, analysis finds that smaller countries (i) tend to have more volatile gross domestic product; (ii) have more volatile, less procyclical, and less persistent investment; (iii) exhibit more volatile trade balance and current account, have more procyclical exports, and thus less countercyclical trade balance; (iv) have more volatile government consumption and more procyclical public revenues and fiscal balance; and (v) possess more procyclical inflation. The effects of country size remain robust even after we control for the level of economic and institutional development, the presence of fiscal rule(s) and fixed exchange rates, and the commodity exporting status.
    Language: English
    DOI: 10.1596/1813-9450-8527
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    EUV Frankfurt
    HTW Berlin
    Charité
  • 5
    Online Resource
    Online Resource
    Sources of Volatility in Small Economies / (2018)
    Washington, D.C. :The World Bank,
    Details
    UID:
    almafu_9958921567402883
    Format: 1 online resource (34 pages)
    Series Statement: Policy research working papers.
    Content: Do sources of volatility differ by country characteristics such as the level of development, country size, quality of institutions, and presence of restrictions on fiscal policy? This paper sets out to answer this question in a quarterly panel of 48 developed and developing countries for 1960-2015. Using individual country and panel vector autoregressions, the paper shows that factors affecting gross domestic product volatility differ systematically by country size, development level, and whether a country has adopted fiscal rule(s). The role of country size is particularly pronounced in developing countries. The paper shows that small developing countries are more prone to domestic output shocks, while shocks to the world interest rate and real exchange rate are more important in large developing countries. Small countries are also more susceptible to terms of trade shocks. These results suggest that stabilization policies must be designed with these country characteristics in mind.
    Language: English
    DOI: 10.1596/1813-9450-8526
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Fulltext
    FU Berlin
    EUV Frankfurt
    HTW Berlin
    Charité
  • 6
    Online Resource
    Online Resource
    Characterizing business cycles in small economies (2018)
    Washington, D.C. : World Bank Group, Social Protection and Jobs Global Practice
    Details
    UID:
    gbv_1031662545
    Format: 1 Online-Ressource (circa 77 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8527
    Content: This paper aims to document a set of stylized facts characterizing business cycle dynamics in smaller economies. The paper uses a large sample of countries spanning 1960-2014 to show that country size is a significant factor affecting countries' volatility, comovement with gross domestic product and real interest rate, and persistence. Specifically, analysis finds that smaller countries (i) tend to have more volatile gross domestic product; (ii) have more volatile, less procyclical, and less persistent investment; (iii) exhibit more volatile trade balance and current account, have more procyclical exports, and thus less countercyclical trade balance; (iv) have more volatile government consumption and more procyclical public revenues and fiscal balance; and (v) possess more procyclical inflation. The effects of country size remain robust even after we control for the level of economic and institutional development, the presence of fiscal rule(s) and fixed exchange rates, and the commodity exporting status
    Additional Edition: Erscheint auch als Druck-Ausgabe Hnatkovska, Viktoria Characterizing Business Cycles in Small Economies Washington, D.C : The World Bank, 2018
    Language: English
    Keywords: Graue Literatur
    DOI: 10.1596/1813-9450-8527
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
    Author information: Köhler-Geib, Friederike
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    MPI Bildungsforschung
  • 7
    Online Resource
    Online Resource
    Sources of volatility in small economies (2018)
    Washington, D.C. : World Bank Group, Social Protection and Jobs Global Practice
    Details
    UID:
    gbv_1031662391
    Format: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8526
    Content: Do sources of volatility differ by country characteristics such as the level of development, country size, quality of institutions, and presence of restrictions on fiscal policy? This paper sets out to answer this question in a quarterly panel of 48 developed and developing countries for 1960-2015. Using individual country and panel vector autoregressions, the paper shows that factors affecting gross domestic product volatility differ systematically by country size, development level, and whether a country has adopted fiscal rule(s). The role of country size is particularly pronounced in developing countries. The paper shows that small developing countries are more prone to domestic output shocks, while shocks to the world interest rate and real exchange rate are more important in large developing countries. Small countries are also more susceptible to terms of trade shocks. These results suggest that stabilization policies must be designed with these country characteristics in mind
    Additional Edition: Erscheint auch als Druck-Ausgabe Hnatkovska, Viktoria Sources of Volatility in Small Economies Washington, D.C : The World Bank, 2018
    Language: English
    Keywords: Graue Literatur
    DOI: 10.1596/1813-9450-8526
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
    Author information: Köhler-Geib, Friederike
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    MPI Bildungsforschung
  • 8
    Online Resource
    Online Resource
    Volatility and Growth / (2004)
    Washington, D.C. :World Bank,
    Details
    UID:
    almafu_9958083908502883
    Series Statement: Policy research working paper ; 3184
    Note: "January 7, 2004." , Title from title screen as viewed on January 7, 2004. , Also available in printing.
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    FU Berlin
    Charité
  • 9
    Book
    Book
    Volatility and growth (2004)
    Washington, DC : World Bank, Development Research Group, Macroeconomics and Growth
    Details
    UID:
    gbv_381775720
    Format: 40 S , graph. Darst
    Series Statement: Policy research working paper 3184
    Note: Internetausg.: http://econ.worldbank.org/files/32321_wps3184.pdf
    Language: English
    Keywords: Arbeitspapier ; Graue Literatur
    Author information: Loayza, Norman 1964-
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Book
    Stabi Berlin get availability status
  • 10
    Book
    Book
    International capital flows returns and world financial integration (2005)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV021445642
    Format: 42, 6 S. , graph. Darst.
    Series Statement: National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 11701
    Content: International capital flows have increased dramatically since the 1980s, with much of the increase being due to trade in equity and debt markets. Such developments are often attributed to the increased integration of world financial markets. We present a model that allows us to examine how greater integration in world financial markets affects the behavior of international capital flows and financial returns. Our model predicts that international capital flows are large (in absolute value) and very volatile during the early stages of financial integration when international asset trading is concentrated in bonds. As integration progresses and households gain access to world equity markets, the size and volatility of international bond flows fall dramatically but continue to exceed the size and volatility of international equity flows. This is the natural outcome of greater risk sharing facilitated by increased integration. We find that the equilibrium flows in bonds and stocks are larger than their empirical counterparts, and are largely driven by variations in equity risk premia. The paper also makes a methodological contribution to the literature on dynamic general equilibrium asset-pricing. We implement a new technique for solving a dynamic general equilibrium model with production, portfolio choice and incomplete markets.
    Additional Edition: Erscheint auch als Internetausgabe
    Language: English
    Subjects: Economics
    RVK:
    QB 910
    URL: Volltext  (kostenfrei)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Book
    Fulltext
    EUV Frankfurt get availability status
Nothing or not found what you are looking for? Please check your search query or use the Interlibrary Loan Search.
Close ⊗
This website uses cookies and the analysis tool Matomo. Further information can be found on the KOBV privacy pages