A New Keynesian Model of the Armenian Economy / / Ara Stepanyan, Era Dabla-Norris, Ashot Mkrtchyan
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| Autore: |
Stepanyan Ara
|
| Titolo: |
A New Keynesian Model of the Armenian Economy / / Ara Stepanyan, Era Dabla-Norris, Ashot Mkrtchyan
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 43 p. : ill |
| Disciplina: | 332.1 |
| Soggetto topico: | Inflation targeting - Armenia |
| Monetary policy - Armenia | |
| Exports and Imports | |
| Foreign Exchange | |
| Inflation | |
| Macroeconomics | |
| Banks and Banking | |
| Neoclassical | |
| General Aggregative Models: Forecasting and Simulation | |
| Price Level | |
| Deflation | |
| Monetary Policy | |
| Central Banks and Their Policies | |
| Macroeconomics: Consumption | |
| Saving | |
| Wealth | |
| Remittances | |
| Interest Rates: Determination, Term Structure, and Effects | |
| Currency | |
| Foreign exchange | |
| International economics | |
| Finance | |
| Real exchange rates | |
| Exchange rates | |
| Consumption | |
| Prices | |
| National accounts | |
| Real interest rates | |
| Financial services | |
| Economics | |
| International finance | |
| Interest rates | |
| Soggetto geografico: | Armenia, Republic of |
| Altri autori: |
Dabla-NorrisEra
MkrtchyanAshot
|
| Note generali: | Bibliographic Level Mode of Issuance: Monograph |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | Intro -- Contents -- I. Introduction -- II. Stylized Facts About the Armenian Economy -- A. Stylized Facts on Long-Term Trends -- B. Business Cycle Fluctuations -- III. Model Environment -- A. Households -- B. Firms -- C. Equilibrium -- D. Model Calibration and Estimation -- IV. Model Properties -- A. Impulse Responses -- B. Correspondence Between the Model and Observed Data -- V. Conclusion -- Figures -- 1. Long-Term Trends and Business Cycle Movements from Trends -- 2. Business CycleFluctuations of Detrended Series -- 3. Home Good Inflation Shock -- 4. Imported Good Inflation Shock -- 5. Productivity Shock -- 6. Remittances Shock -- 7. Foreign Output Shock -- 8. Policy Interest Rate -- 9. Estimated and Observed Variables -- 10. Estimated Structural Shocks -- 11. Population Standard Deviations -- 12. Population Autocorrelation Coefficients -- 13. Population Cross-Correlation Coefficients -- 14. Historical Model Forecasts -- Appendices -- A. Model Equations -- B. Data Description -- References. |
| Sommario/riassunto: | This paper develops a small open economy dynamic stochastic general equilibrium (DSGE) model of the Armenian economy. The structure of the model is largely motivated by recent developments in DSGE modeling, with key extensions to incorporate specific structural characteristics of the Armenian economy. The resultant model can be used to simulate monetary policy paths and help analyze the robustness of policy conclusions. The paper tests the model’s properties on Armenian data, demonstrating that the main stylized features relevant for monetary policy making are well captured by the model. |
| Titolo autorizzato: | A New Keynesian Model of the Armenian Economy |
| ISBN: | 1-4623-6990-1 |
| 1-282-84287-0 | |
| 1-4518-7213-5 | |
| 9786612842870 | |
| 1-4519-9332-3 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910827478803321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2009/066