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C. Gabriel Di Bella's
Scholarly Papers
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Aggregate Statistics |
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Downloads
232 |
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Citations
6 |
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C. Gabriel Di Bella
International Monetary Fund (IMF) Mark J. Lewis
Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA) Aurelie Martin
International Monetary Fund (IMF)
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26 Aug 07
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26 Aug 07
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Abstract:
Assessing a country's competitiveness routinely starts with an analysis of the real exchange rate. However, in low-income countries, empirical analysis of the real exchange rate is often subject to important limitations that seriously weaken the results. This paper summarizes the methodologies used to assess real exchange rate misalignments and discusses the range of obstacles common to low-income countries. Recognizing the importance of using a wide range of indicators for assessing competitiveness in low-income countries, the paper discusses alternative competitive measures and then proposes a template of indicators to allow for a systematic assessment of competitiveness in low-income countries. The template is then used to rank countries according to their competitiveness performance in 2006.
Export competitiveness, Real effective exchange rates, Low-income developing countries, Working Paper
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David Hauner
International Monetary Fund (IMF) - African Department C. Gabriel Di Bella
International Monetary Fund (IMF)
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03 Mar 06
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13 Aug 06
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78
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This paper revisits the usefulness of econometric monetary analysis in low-income countries in a case study on Rwanda, an interesting case given its floating exchange rate and reliance on indirect monetary policy instruments on the one hand, and its somewhat typical data and institutional shortcomings on the other hand. The findings are generally encouraging for the use of econometric models for monetary analysis in low-income countries. Notwithstanding substantial qualifications, time series and structural models of the money multiplier and money demand yield results that are statistically and economically reasonable enough to usefully inform policymaking.
Money demand, money multiplier, Rwanda
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3.
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C. Gabriel Di Bella
International Monetary Fund (IMF)
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06 Feb 06
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06 Feb 06
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Abstract:
In this paper, a simple methodology to assess the effectiveness of automatic stabilizers is proposed and empirically tested using French data for the period 1970-2000. The paper concludes that fiscal stabilizers have dampened output variability by approximately 35-45 percent depending on the measure of potential output used. In addition, the results indicate that fiscal stabilizers mainly operated through the reduction of private investment fluctuations from 1970 to 1985, and through the reduction of private consumption variability thereafter. Due to the counterfactual nature of the analysis performed, the simplicity of the theoretical model, and simultaneity issues that might introduce biases, the results can at most be interpreted as approximations of the phenomenon that is analyzed.
Automatic stabilizers, fiscal policy, France
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