Macroeconomic Adjustment in Armenia: The Role of External Factors
Journal Title: Eurasian Journal of Business and Economics - Year 2010, Vol 3, Issue 5
Abstract
This paper develops a small macroeconomic model of the Armenian economy. After setting up the model and its estimation, a number of macroeconomic scenarios is analyzed in the form of out-of-sample simulations. We analyze the transmissions in the model of a number of macroeconomic shocks and policy scenarios to obtain a better understanding of their possible effects on the internal and external balance of the Armenian economy. A special focus is put on the role of exchange rate and monetary management and the inflow of remittances in the Armenian economy.
Authors and Affiliations
Bas van AARLE, Robert SOSOIAN
Keywords
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