Portugal: Selected Issues
January 15, 1998
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This Selected Issues paper on Portugal reviews a set of issues of relevance to the regime change implied by European Monetary Union participation. It presents an empirical investigation of the business cycle in Portugal. The paper attempts to obtain a quantitative sense of the impact of monetary policy on the Portuguese economy, utilizing an unrestricted vector autoregression methodology to characterize the monetary transmission mechanism. It also examines some key forces at work in Portugal’s external sector from different vantage points.
Subject: Balance of payments, Economic growth, Foreign exchange, International trade, National accounts
Keywords: anchor currency interest rate, Business cycles, catch-up process, CR, Current account, durable goods, Eastern Europe, EU accession, Europe, exchange rate, Exchange rates, export base, Exports, Income, interest rate, ISCR, Northern Europe, output fluctuation, Portugal, primary sector, prompt question
Pages:
142
Volume:
1997
DOI:
Issue:
121
Series:
Country Report No. 1997/121
Stock No:
1PRTEA0011997
ISBN:
9781451832105
ISSN:
1934-7685
