Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina
AbstractThis paper develops and estimates a model of the trade balance of Bosnia and Herzegovina. Credit flows and the fiscal stance are found to play a significant role in determining the trade balance. On this basis the paper discusses the trade-offs between monetary and fiscal policy settings needed to achieve a clear downward path for the large current account deficit of Bosnia and Herzegovina.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 06/276.
Date of creation: 01 Dec 2006
Date of revision:
Contact details of provider:
Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-06 (All new papers)
- NEP-CBA-2007-01-06 (Central Banking)
- NEP-EEC-2007-01-06 (European Economics)
- NEP-IFN-2007-01-06 (International Finance)
- NEP-MAC-2007-01-06 (Macroeconomics)
- NEP-PBE-2007-01-06 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James H. Stock & Jonathan Wright, 2000. "GMM with Weak Identification," Econometrica, Econometric Society, vol. 68(5), pages 1055-1096, September.
- Joe Peek & Eric S. Rosengren & Geoffrey M. B. Tootell, 2000.
"Identifying the macroeconomic effect of loan supply shocks,"
00-2, Federal Reserve Bank of Boston.
- Peek, Joe & Rosengren, Eric S & Tootell, Geoffrey M B, 2003. " Identifying the Macroeconomic Effect of Loan Supply Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(6), pages 931-46, December.
- Lawrence J. Christiano & Martin Eichenbaum, 1992.
"Liquidity effects, monetary policy, and the business cycle,"
Discussion Paper / Institute for Empirical Macroeconomics
70, Federal Reserve Bank of Minneapolis.
- Christiano, Lawrence J & Eichenbaum, Martin, 1995. "Liquidity Effects, Monetary Policy, and the Business Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1113-36, November.
- Lawrence J. Christiano & Martin Eichenbaum, 1992. "Liquidity effects, monetary policy and the business cycle," Working Paper Series, Macroeconomic Issues 92-15, Federal Reserve Bank of Chicago.
- Martin Eichenbaum & Lawrence J. Christiano, 1992. "Liquidity Effects, Monetary Policy, and the Business Cycle," NBER Working Papers 4129, National Bureau of Economic Research, Inc.
- Kishan, Ruby P & Opiela, Timothy P, 2000. "Bank Size, Bank Capital, and the Bank Lending Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(1), pages 121-41, February.
- Bayoumi, Tamim, 1998.
"Estimating Trade Equations from Aggregate Bilateral Data,"
CEPR Discussion Papers
1970, C.E.P.R. Discussion Papers.
- Tamim Bayoumi, 1999. "Estimating Trade Equations from Aggregate Bilateral Data," IMF Working Papers 99/74, International Monetary Fund.
- Li, Victor E, 2000. "Household Credit and the Monetary Transmission Mechanism," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(3), pages 335-56, August.
- Bussière, Matthieu & Fratzscher, Marcel & Müller, Gernot J., 2004. "Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach," Working Paper Series 0311, European Central Bank.
- Lucas, Robert Jr., 1990. "Liquidity and interest rates," Journal of Economic Theory, Elsevier, vol. 50(2), pages 237-264, April.
- Hansen, Bruce E & West, Kenneth D, 2002. "Generalized Method of Moments and Macroeconomics," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 460-69, October.
- Rudebusch, Glenn D, 2005.
"Assessing the Lucas Critique in Monetary Policy Models,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 37(2), pages 245-72, April.
- Glenn D. Rudebusch, 2002. "Assessing the Lucas critique in monetary policy models," Working Paper Series 2002-02, Federal Reserve Bank of San Francisco.
- Jones, John B, 2003.
" The Dynamic Effects of Firm-Level Borrowing Constraints,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 35(5), pages 743-62, October.
- John Bailey Jones, 2000. "The Dynamic Effects of Firm Level Borrowing Constraints," Discussion Papers 00-02, University at Albany, SUNY, Department of Economics.
- Letendre, Marc-Andre, 2004.
"Semi-parametric predictions of the intertemporal approach to the current account,"
Journal of International Economics,
Elsevier, vol. 64(2), pages 363-386, December.
- M-A. Letendre, 2002. "Semi-Parametric Predictions of the Intertemporal Approach to the Current Account," Department of Economics Working Papers 2002-01, McMaster University.
- Fuerst, Timothy S., 1992. "Liquidity, loanable funds, and real activity," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 3-24, February.
- Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
- Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-29, October.
- Tihomir Stucka, 2004. "The Effects of Exchange Rate Change on the Trade Balance in Croatia," IMF Working Papers 04/65, International Monetary Fund.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).
If references are entirely missing, you can add them using this form.