Business cycles in the eastern Caribbean economies: the role of fiscal policy and interest rates (English)

This paper analyzes the business cycle characteristics of the economies of the Organization of Eastern Caribbean States using a model of a small open economy subject to interest rate and fiscal expenditure shocks and financial frictions. The paper shows that macroeconomic aggregates in this region are quite volatile, with consumption exhibiting higher volatility than gross domestic product. The analysis also finds that in these economies real interest...

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Author

Carneiro,Francisco Galrao;

Hnatkovska,Viktoria;
Document Date
2016/01/27
Document Type
Policy Research Working Paper
Report Number
WPS7545
Volume No
1
Total Volume(s)
1
Country
Caribbean,
Region
Latin America and Caribbean,
Disclosure Date
2016/01/27
Disclosure Status
Disclosed
Doc Name
Business cycles in the eastern Caribbean economies: the role of fiscal policy and interest rates
Keywords
government expenditure

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Citation

Carneiro,Francisco Galrao; Hnatkovska,Viktoria.

Business cycles in the eastern Caribbean economies: the role of fiscal policy and interest rates (English). Policy Research working paper|no. WPS 7545 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/858571468184442109

Business cycles in the eastern Caribbean economies: the role of fiscal policy and interest rates (English)

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