Macroeconomic regimes

Macroeconomic Regimes and Regime Shifts

Macroeconomic Patterns in System-Wide Liquidity Regimes

This research seeks statistical commonalities in market liquidity across a range of corporate equities and bond markets and commodity futures markets, with an aim to better understanding system-level patterns in aggregate or funding liquidity that arise from broad patterns in market liquidity. We present a Bayesian estimation of hidden Markov chain (HMC) models to measure the latent structure o...

No . 99 Macroeconomic Regimes Business Cycle

The disequilibrium framework is extended to account for investment-savings imbalances that are likely to affect capital accumulation. A simple graphical analysis is put forward to analyse the additional regimes arising out of this imbalance and different adjustment mechanisms are discussed. These different regimes are compared with existing business cycle theories, showing that this framework d...

Exchange Rate Regimes and Macroeconomic Performance in South Asia

Stylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual middling through approach to openness and market development are helping the region absorb shocks without reducing growth. Diverse sources of demand...

Varieties of Economic Growth Regimes, Types of Macroeconomic Policies, and Policy Regime: A Post-Keynesian Analysis

This study explores the effects of macroeconomic policies on measures of macroeconomic performance such as growth and inflation by setting up a dynamic post-Keynesian model with government and central bank interventions. In doing so, this study reconsiders the arguments in favor of a policy regime. The model in this paper generates several varieties of economic growth regimes and inflation dyna...