期刊名称：International Research Journal of Finance and Economics
印刷版ISSN：1450-2887
电子版ISSN：1450-2887
出版年度：2020
期号：177
页码：97-110
出版社：European Journals Inc.
摘要：The paper develops a Mundell-Fleming IS-LM-BP model that is specific for the Lebanese economy. It is the first short-run macro model in the post-civil-war period that we know of that is run on a monthly basis, over the period from 2008 to 2018. The model is estimated using the Robust Least Squares methodology, and arrives at fairly interesting conclusions. On the fiscal side, government spending and taxation yield positive output results and are aligned with the model. So are changes in the pegged exchange rate that contribute positively to output but marginally to the balance of payments. On the other hand, monetary policy has interesting implications as far as its compressed effects on output and the balance of payments whereas remittances seem to have hardly any impact on the same. Also crucial are governance and structural reforms that are important in them selves and in making macro policies more effective.
