Dynamic Responses To Policy And Exogenous Shocks In An Empirical Developing Country Model With Rational Expectations
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Dynamic Responses to Policy and Exogenous Shocks in an Empirical Developing-Country Model with Rational Expectations
Author: International Monetary Fund
language: en
Publisher: International Monetary Fund
Release Date: 1990-03-01
The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country modelling, prove to be quite important in determining the model’s dynamic properties. This suggests that macroeconomic management in developing countries--such as that involved in short-run stabilization--requires that such features be explicitly taken into account.
Macroeconomic Models for Adjustment in Developing Countries
Author: International Monetary Fund
language: en
Publisher: International Monetary Fund
Release Date: 1991-06-15
This volume, edited by Mohsin S. Khan, Peter J. Montiel, and Nadeem U. Haque, examines recent IMF-developed empirical macroeconomic models dealing with adjustment and stabilization policies in developing countries. Some models are relevant for specific countries, and others relate to groups of developing countries.
Dynamic Responses to Policy and Exogenous Shocks in an Empirical Developing-Country Model with Rational Expectations
The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country modelling, prove to be quite important in determining the model`s dynamic properties. This suggests that macroeconomic management in developing countries--such as that involved in short-run stabilization--requires that such features be explicitly taken into account.