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The Resource What determines long-run macroeconomic stability? : democratic institutions, prepared by Shanker Satyanath and Arvind Subramanian

What determines long-run macroeconomic stability? : democratic institutions, prepared by Shanker Satyanath and Arvind Subramanian

Work
Publication
Extent
1 online resource (51 pages)
Contents
  • Contents
  • I. INTRODUCTION
  • II. THE DEEP DETERMINANTS OF STABILITY
  • III. EMPIRICAL STRATEGY
  • IV. MEASUREMENT AND ESTIMATION ISSUES
  • V. RESULTS
  • VI. ROBUSTNESS
  • VII. CONCLUDING REMARKS
  • References
Isbn
9781451919660
Instance
Label
What determines long-run macroeconomic stability? : democratic institutions
Title
What determines long-run macroeconomic stability?
Title remainder
democratic institutions
Statement of responsibility
prepared by Shanker Satyanath and Arvind Subramanian
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
Annotation
Member of
Action
digitized
Cataloging source
OCLCE
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorDate
1958-
http://library.link/vocab/creatorName
Satyanath, Shanker
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.04/215 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Subramanian, Arvind
  • International Monetary Fund
Series statement
IMF Working Paper
Series volume
WP/04/215
http://library.link/vocab/subjectName
  • Economic stabilization
  • Democracy
  • Democracy
  • Economic stabilization
  • Developing countries
Summary expansion
We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and statistically significant causal impact on macroeconomic stability. Surprisingly the most robust relationship of the three is for democratic institutions. a one standard deviation increase in democracy can reduce nominal instability nearly fourfold. This impact is robust to alternative measures of democracy, samples, covariates, and definitions of conflict. It is particularly noteworthy that a variety of nominal pathologies discussed in the recent macroeconomic literature, such as procyclical policy, original sin, and debt intolerance, have common origins in weak democratic institutions. We also find evidence that democratic institutions both strongly influence monetary policy and have a strong, independent positive effect on stability after controlling for various policy variables
Label
What determines long-run macroeconomic stability? : democratic institutions, prepared by Shanker Satyanath and Arvind Subramanian
Instantiates
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 48-51)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Contents -- I. INTRODUCTION -- II. THE DEEP DETERMINANTS OF STABILITY -- III. EMPIRICAL STRATEGY -- IV. MEASUREMENT AND ESTIMATION ISSUES -- V. RESULTS -- VI. ROBUSTNESS -- VII. CONCLUDING REMARKS -- References
Control code
646879259
Dimensions
unknown
Extent
1 online resource (51 pages)
Form of item
online
Isbn
9781451919660
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)646879259
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Label
What determines long-run macroeconomic stability? : democratic institutions, prepared by Shanker Satyanath and Arvind Subramanian
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 48-51)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Contents -- I. INTRODUCTION -- II. THE DEEP DETERMINANTS OF STABILITY -- III. EMPIRICAL STRATEGY -- IV. MEASUREMENT AND ESTIMATION ISSUES -- V. RESULTS -- VI. ROBUSTNESS -- VII. CONCLUDING REMARKS -- References
Control code
646879259
Dimensions
unknown
Extent
1 online resource (51 pages)
Form of item
online
Isbn
9781451919660
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)646879259
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

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