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    A Bayesian-Estimated Model of Inflation Targeting in South Africa

    This paper estimates a small dynamic macroeconomic model for the South African economy with Bayesian methods. The model is tailored to assessing the impact of domestic as well as external shocks on inflation w...

    Thomas Harjes, Luca Antonio Ricci in IMF Staff Papers (2010)

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    Debt Overhang or Debt Irrelevance?

    Do highly indebted countries suffer from a debt overhang? Can debt relief foster their growth rates? To answer these important questions, this article looks at how the debt-growth relation varies with indebted...

    Tito Cordella, Luca Antonio Ricci, Marta Ruiz-Arranz in IMF Staff Papers (2010)

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    Uncertainty, Flexible Exchange Rates, and Agglomeration

    This paper shows that exchange rate volatility promotes agglomeration of economic activity. Under flexible rates, firms prefer to locate in large countries, where they would enjoy lower variability of sales, t...

    Luca Antonio Ricci in Open Economies Review (2006)

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    Exchange Rate Regimes, Location, and Specialization

    This paper investigates the effects of fixed versus flexible exchange rates on firms’ location choices and on countries’ specialization patterns. In a two-country, two-differentiated-goods monetary model, unce...

    Luca Antonio Ricci in IMF Staff Papers (2006)

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    Capital Account Liberalization and Economic Performance: Survey and Synthesis

    This paper surveys the literature on the effects of capital account openness and stock market liberalization on economic growth and provides a synthesis in which we reconcile some of the different results pres...

    Hali J. Edison, Michael W. Klein, Luca Antonio Ricci, Torsten Sløk in IMF Staff Papers (2004)