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A New Keynesian Model of the Armenian Economy

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 econom...

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Bibliographic Details
Main Author: Stepanyan, Ara
Other Authors: Dabla-Norris, Era, Mkrtchyan, Ashot
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
International Finance
Interest Rates
Inflation
Wealth
Economics
Neoclassical
Finance
Saving
Financial Services
Real Interest Rates
Deflation
Currency
Exports And Imports
General Aggregative Models: Forecasting And Simulation
International Economics
National Accounts
Price Level
Foreign Exchange
Banks And Banking
Consumption
Prices
Macroeconomics
Macroeconomics: Consumption
Real Exchange Rates
Interest Rates: Determination, Term Structure, And Effects
Central Banks And Their Policies
Exchange Rates
Remittances
Monetary Policy
Armenia, Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:43 pages
ISBN:9781451872132

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