A Model of Adjustment and Growth: An Empirical Analysis
A model that merges the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined is estimated. The tradeoff between the simplifying assumptions of the model and its ability to fit reality is assessed in terms of a diverse sample of seven capital importing developing countries for which the key parameters of the model are estimated, and the sensitivity of the implied policy multipliers is determined.
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Volume (Year): 37 (1990)
Issue (Month): 1 (March)
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- Mohsin S. Khan & Peter J. Montiel, 1989. "Growth-Oriented Adjustment Programs: A Conceptual Framework," IMF Staff Papers, Palgrave Macmillan, vol. 36(2), pages 279-306, June.
- Carmen M. Reinhart, 1990.
"A Model of Adjustment and Growth: An Empirical Analysis,"
IMF Staff Papers,
Palgrave Macmillan, vol. 37(1), pages 168-182, March.
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