A model of adjustment and growth: An empirical analysis

Carmen Reinhart

MPRA Paper from University Library of Munich, Germany

Abstract: This paper develops a model merging 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. The empirical part of the paper presents estimates of the key parameters of the model for a sample of seven diverse developing countries and tests the validity of a subset of the theoretical assumptions. The estimated model is then used for a variety of comparative static exercises, including the effects of f i s c a l and monetary policy changes, and devaluation.

Keywords: growth; current; account; inflation; IMF; programs; devaluation (search for similar items in EconPapers)
JEL-codes: E20 F40 F41 (search for similar items in EconPapers)
Date: 1989
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Citations: View citations in EconPapers (2)

Published in Macroeconomic Models for Adjustment in Developing Countries (1991): pp. 10-37

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Related works:
Working Paper: A model of adjustment and growth: An empirical analysis (1991)
Journal Article: A Model of Adjustment and Growth: An Empirical Analysis (1990)
Working Paper: “A Model of Adjustment and Growth (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:14101

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