Min Kyu Song

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  • Pete Devries, Charles Freedman, Jaime Guajardo, Doug-Las Laxton, Andrea Pescatori, Murad Omoev +2 others
  • 2010
3 chapter This chapter examines the effects of fiscal consolidation —tax hikes and government spending cuts—on economic activity. Based on a historical analysis of fiscal consolidation in advanced economies, and on simulations of the IMF's Global Integrated Monetary and Fiscal Model (GIMF), it finds that fiscal consolidation typically reduces output and(More)
1 4 chapter G lobal imbalances narrowed during the crisis, but a strong and balanced recovery requires that this narrowing be made more durable. Before the crisis, a number of economies experienced large and persistent current account imbalances (Figure 4.1). These imbalances shrank sharply in 2009, reflecting both cyclical and more lasting developments. In(More)
This chapter examines the inflationary effects of commodity price movements and the appropriate monetary policy response. Commodity prices tend to have stronger and longer-lasting effects on inflation in economies with high food shares in the consumption basket and in economies with less firmly anchored inflation expectations. The chapter's analysis(More)
PURPOSE To (1) determine the length of the osteotomy at the anterior and posterior cortex, (2) compare between uni- and biplanar osteotomy, and (3) evaluate the relationship between the extent of the osteotomy and change of the posterior tibial slope. METHODS A prospective comparative study of 24 uniplanar and 30 biplanar osteotomies was performed. To(More)
This chapter investigates the medium-term behavior of output following banking crises, and its association with pre-and post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with no rebound to the precrisis trend. However, growth does eventually tend to return to its precrisis rate, with(More)
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