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A Model of Adjustment and Growth: An Empirical Analysis

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  • Carmen M. Reinhart

    (International Monetary Fund)

Abstract

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.

Suggested Citation

  • 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.
    • Handle: RePEc:pal:imfstp:v:37:y:1990:i:1:p:168-182
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    Cited by:

    1. Alice Nicole Sindzingre, 2021. "Truth vs justification: contrasting heterodox and mainstream thinking on development via the example of austerity in Africa," Working Papers hal-03139457, HAL.
    2. Akram, Q. Farooq, 2011. "Policy analysis in real time using IMF's monetary model," Economic Modelling, Elsevier, vol. 28(4), pages 1696-1709, July.
    3. Mr. Jan Giehm Mikkelsen, 1998. "A Model for Financial Programming," IMF Working Papers 1998/080, International Monetary Fund.
    4. repec:bla:devpol:v:23:y:2005:i:3:p:299-312 is not listed on IDEAS
    5. repec:hal:cepnwp:hal-03139457 is not listed on IDEAS
    6. José Luis Evia, 1996. "Política Fiscal e Inversión Privada en Bolivia," Documentos de trabajo 6/1992, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
    7. Tarp, Finn, 1994. "De makroøkonomiske reformer i teoretisk belysning [Macroeconomic Reforms in Theoretical Context]," MPRA Paper 64206, University Library of Munich, Germany.
    8. 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.

    More about this item

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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