{
  "title": "Macrofinancial Linkages and Growth at Risk in the Dominican Republic",
  "publication": "IMF Working Papers, November 13, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2019/11/13/macrofinancial-linkages-and-growth-at-risk-in-the-dominican-republic-48792",
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  "summary": "This paper uses the Growth-at-Risk (GaR) methodology to examine how macrofinancial conditions affect the growth outlook and its probability distribution. Using this approach, we evaluate risks to GDP growth in the Dominican Republic using quarterly data for 1996-2018.",
  "sections": [
    {
      "heading": "Methodology and data",
      "content": "- Uses the Growth-at-Risk (GaR) methodology to examine how macrofinancial conditions affect the growth outlook and its probability distribution.\n- Evaluates risks to GDP growth in the Dominican Republic using quarterly data for 1996-2018.\n- Groups macrofinancial conditions into five principal determinants, based on 32 indicators."
    },
    {
      "heading": "Key findings",
      "content": "- The Dominican Republic’s growth distribution appears most vulnerable to negative shocks to:\n  - domestic financial conditions\n  - domestic leverage\n  - domestic demand\n  - external demand\n- There are additional repercussions from the external cost of borrowing in the longer run.\n- Domestic monetary policy plays a particularly important role in reducing growth vulnerabilities when the economy is weak."
    },
    {
      "heading": "Policy implications and transmission",
      "content": "- Emphasizes the role of domestic monetary policy in mitigating downside growth risks, especially under weak economic conditions.\n- Highlights channels where macrofinancial conditions (financial conditions, leverage, demand, external borrowing costs) transmit to GDP growth risk."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Title: Macrofinancial Linkages and Growth at Risk in the Dominican Republic\n- Authors: Olga Bespalova, Marina V Rousset\n- Date: November 13, 2019\n- Series: Working Paper No. 2019/246\n- Issue: 246\n- Volume: 2019\n- Pages: 19\n- ISBN: 9781513519203\n- ISSN: 1018-5941\n- Stock No: WPIEA2019246\n- DOI: https://doi.org/10.5089/9781513519203.001\n\nIMF Working Paper — Macrofinancial Linkages and Growth at Risk in the Dominican Republic (Olga Bespalova, Marina V Rousset, November 13, 2019).\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2019/11/13/macrofinancial-linkages-and-growth-at-risk-in-the-dominican-republic-48792"
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    "Authors: Olga Bespalova, Marina V Rousset",
    "Published: November 13, 2019",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513519203.001",
    "Uses the Growth-at-Risk (GaR) methodology to examine how macrofinancial conditions affect the growth outlook and its probability distribution.",
    "Evaluates risks to GDP growth in the Dominican Republic using quarterly data for 1996-2018.",
    "Groups macrofinancial conditions into five principal determinants, based on 32 indicators.",
    "The Dominican Republic’s growth distribution appears most vulnerable to negative shocks to:",
    "There are additional repercussions from the external cost of borrowing in the longer run.",
    "Domestic monetary policy plays a particularly important role in reducing growth vulnerabilities when the economy is weak.",
    "Emphasizes the role of domestic monetary policy in mitigating downside growth risks, especially under weak economic conditions.",
    "Highlights channels where macrofinancial conditions (financial conditions, leverage, demand, external borrowing costs) transmit to GDP growth risk.",
    "Title: Macrofinancial Linkages and Growth at Risk in the Dominican Republic",
    "Authors: Olga Bespalova, Marina V Rousset",
    "Date: November 13, 2019",
    "Series: Working Paper No. 2019/246",
    "Issue: 246",
    "Volume: 2019",
    "Pages: 19",
    "ISBN: 9781513519203",
    "ISSN: 1018-5941",
    "Stock No: WPIEA2019246",
    "DOI: https://doi.org/10.5089/9781513519203.001",
    "**Working Paper**"
  ],
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