How Private Investment Reacts to Changing Macroeconomic Conditions PDF Download
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Author: Andrés Solimano
Publisher:
ISBN:
Category : Inversiones privadas - Chile
Languages : en
Pages : 52
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Book Description
Private investment in Chile has been rather modest and very volatile in the last decade. An empirical model of investment determination is set up to investigate the role of sharp cycles in economic activity, misalignments and realignments in key relative prices (including the real interest rate), changes in policy rules and external conditions in explaining the behavior of private investment in Chile.
Author: Andrés Solimano
Publisher:
ISBN:
Category : Inversiones privadas - Chile
Languages : en
Pages : 52
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Book Description
Private investment in Chile has been rather modest and very volatile in the last decade. An empirical model of investment determination is set up to investigate the role of sharp cycles in economic activity, misalignments and realignments in key relative prices (including the real interest rate), changes in policy rules and external conditions in explaining the behavior of private investment in Chile.
Author: Mr.Abdul Abiad
Publisher: International Monetary Fund
ISBN: 1484361555
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Author: Shafik Hebous
Publisher: International Monetary Fund
ISBN: 1513578723
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
We study the effects of federal purchases on firms’ investment using a novel panel dataset that combines federal procurement contracts in the United States with key financial firm-level information. We find that 1 dollar of federal spending increases firms’ capital investment by 7 to 11 cents. The average effect masks heterogeneity: Effects are stronger for firms that face financing constraints and they are close to 0 for unconstrained firms. In line with the financial accelerator model, our findings indicate that the effect of government purchases works through easing firms’ access to external borrowing. Furthermore, industry-level analysis suggests that that the increase in investment at the firm level translates into an industry-wide effect without crowding-out capital investment of other firms in the same industry.
Author: A. Chhibber
Publisher: Elsevier
ISBN: 1483291340
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
The aim of the research described in this volume is to examine the behavior of private domestic investment in a sample of seven developing economies: Chile, Colombia, Egypt, Indonesia, Morocco, Turkey, and Zimbabwe. The studies represent a first step toward understanding the investment process in developing countries and the scope for government policy to affect private capital formation. Such issues will become increasingly important in the future as more developing countries try to encourage private investment. Four key issues emerge in the analysis of the determinants of private investment and its role in adjustment programs in developing countries. The first is the impact of changes in the exchange rate; the second major concern is the existence of crowding out of private activity as a result of government borrowing in domestic financial markets through interest rates or quantity rationing. A third and related issue is whether government spending, particularly that on investment, "crowds in" or "crowds out" private capital formation. Fourth, the effects of uncertainty are important in determining the response of private agents to changes in the incentive structure.
Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1475566980
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author: Olivier Blanchard
Publisher: MIT Press
ISBN: 9780262521840
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
This annual is designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics
Author: Ajay Chhibber
Publisher: World Bank Publications
ISBN:
Category : Devaluacion - Indonesia
Languages : en
Pages : 48
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Book Description
In the short run, devaluation hurts private investment because higher real import costs for capital and intermediate goods limit private sector profitability. In the long run, the recovery in tradable goods sectors increases profitability and private investment recovers. But how long is the long run?
Author: Ajay Chhibber
Publisher: World Bank Publications
ISBN:
Category : Finance, Public
Languages : en
Pages : 48
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Book Description
The key to sustained recovery in developing countries is the revival of private investment. This revival requires a coordinated set of credible policies - fiscal, exchange rate, tax, and public expenditure restructuring. In several countries the debt overhang is also an obstacle to achieving that credibility.
Author: Anita George
Publisher: World Bank Publications
ISBN:
Category : Inversion de capitales - Chile
Languages : en
Pages : 19
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Book Description
Author: Matthew E. Kahn
Publisher: International Monetary Fund
ISBN: 1513514598
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the temperature increase to 0.01°C per annum, reduces the loss substantially to about 1 percent. These effects vary significantly across countries depending on the pace of temperature increases and variability of climate conditions. We also provide supplementary evidence using data on a sample of 48 U.S. states between 1963 and 2016, and show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labor productivity and employment.
