| Description |
1 online resource : illustrations (some color) |
| Series |
IMF country report ; no. 08/375 |
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IMF country report ; no. 08/375.
|
| Contents |
Cover; Contents; Executive Summary; I. Enhancing Fiscal Policy in Armenia; A. Background; B. The Importance of a Consistent Fiscal Framework; Measuring the Fiscal Stance; Determining the Impact of Fiscal Policy: the "Fiscal Impulse"; Figures; I.1. Fiscal Stance; I.2. Government Spending Shock; I.3. Labor Market Response to a Government Spending Shock; I.4. Response of Economic Activity to a Government Spending Shock; Estimating a Cyclically-Adjusted Fiscal Balance; I.5. Potential Output (Annual Data); I.6. Potential Output (Annualized Quarterly Data); I.7. Cyclical Adjustment to Tax Revenues |
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I.8. Cyclical Adjustment to Government SpendingI. 9. Cyclically Adjusted Underlying Fiscal Balance; I.10. Cyclical Adjustment to Underlying Fiscal Balance; Macro-Fiscal Unit; I.11. Fiscal Stance Revisited; C. Conclusion; References; II. Smoothing Exchange Rate or Fuelling Inflation: What are the Effects of Foreign Exchange Market Intervention in Armenia?; A. Introduction; II. 1. Exchange Rate and Foreign Exchange Market Intervention; B. Foreign Exchange Market Trends and Intervention Policies; II. 2. Foreign Exchange Market Characteristics |
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II. 3. Financial Dedollarization and Cash Dollar HoldingsC. Econometric Investigation; Data; Methodology; Tables; II. 1. Summary Statistics; Results; II. 2. Determinants of CBA Foreign Exchange Intervention; II. 3. Impact of CBA Intervention on the Level of the Exchange Rate; II. 4. Impact of CBA Intervention on Deviations from Exchange Rate Trend; D. Consistency of Exchange Rate and Monetary Policies; II. 4. Intervention, Money Growth, and Inflation; E. Conclusion; References; III. Exchange Rate Appreciation and External Competitiveness in Armenia; A. Introduction; B. Recent External Developments |
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III. 1. Net Investment PositionIII. 2. External Balance; III. 3. REER and NEER (1995-2007); C. Exchange Rate Assessment; Purchasing Power Parity (PPP) Approach; III. 4. Unit Labor Costs: Average Annual Wage Bill/Nominal GDP; III. 5. Local Price Level Relative to U.S. Price Level; III. 6. Relative Price Levels and Relative Incomes (2004); Behavioral Equilibrium Real Exchange Rate (BEER) Approach; III. 7. Equilibrium and Actual Real Exchange Rate (PPP Approach); III. 8. Actual and Estimated Equilibrium REER (Equation 1); External Sustainability (ES) Approach; Macroeconomic Balance (MB) Approach |
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D. Exchange Rate Pass-Through and Domestic CompetitionIII. 9. Impulse Responses of Import Prices to NEER Shocks; III. 10. Exchange Rate Pass-Through to Import Prices; E. Structural Competitiveness; III. 11. Speed of Exchange Rate Pass-Through to Import Prices; III. 1. Selected Countries Rankings in the Business Environment Database (2006-08); F. Conclusions; III. 2. Global Competitiveness Index Ranking and Score, 2007-08; References |
| Summary |
Annotation In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country |
| Bibliography |
Includes bibliographical references |
| Notes |
Print version record |
| Subject |
Inflation (Finance) -- Armenia (Republic)
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Foreign exchange rates -- Armenia (Republic)
|
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Competition -- Armenia (Republic)
|
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Fiscal policy -- Armenia (Republic)
|
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Competition
|
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Economic history
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Economic policy
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Fiscal policy
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Foreign exchange rates
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Inflation (Finance)
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| SUBJECT |
Armenia (Republic) -- Economic policy.
http://id.loc.gov/authorities/subjects/sh92006622
|
|
Armenia (Republic) -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh92006620
|
| Subject |
Armenia (Republic)
|
| Form |
Electronic book
|
| Author |
Gracia, Borja, author.
|
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Floerkemeier, Holger, author.
|
|
Darius, Reginald, author.
|
|
International Monetary Fund, Issuing body.
|
| ISBN |
1280883480 |
|
9781280883484 |
|
9781451985122 |
|
1451985126 |
|
9781452728728 |
|
1452728720 |
| ISSN |
2227-8907 |
|
