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Adopting the Euro in Central Europe; Challenges of the Next Step in European Integration
International Monetary Fund (IMF); International … - 2005
derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …
Persistent link: https://www.econbiz.de/10005767345
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Global Market Conditions and Systemic Risk
González-Hermosillo, Brenda; Hesse, Heiko - International Monetary Fund (IMF) - 2009
This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a...
Persistent link: https://www.econbiz.de/10008460596
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Unanticipated Shocks and Systemic Influences; The Impact of Contagion in Global Equity Markets in 1998
González-Hermosillo, Brenda; Martin, Vance; Fry, Renee; … - International Monetary Fund (IMF) - 2003
August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equity markets using a panel of 14 developing and industrial countries. The results...
Persistent link: https://www.econbiz.de/10005769188
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Italian Sovereign Spreads; Their Determinants and Pass-through to Bank Funding Costs and Lending Conditions
Zoli, Edda - International Monetary Fund (IMF) - 2013
Volatility in Italian sovereign spreads has increased since mid-2011. This paper finds that news on the euro area debt …
Persistent link: https://www.econbiz.de/10011242184
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Are Financial Crises Alike?
Tang, Chrismin; Dungey, Mardi; Martin, Vance; … - International Monetary Fund (IMF) - 2010
This paper investigates whether financial crises are alike by considering whether a single modeling framework can fit multiple distinct crises in which contagion effects link markets across national borders and asset classes. The crises considered are Russia and LTCM in the second half of 1998,...
Persistent link: https://www.econbiz.de/10008561080
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The financial systems – an approach from the perspective of the financial crisis
Spulbăr, Cristi Marcel - In: Annals of University of Craiova - Economic Sciences Series 3 (2010) 38, pp. 8-8
The paper presents a synthesis of a theoretical study realized within the research contract having as theme “The model for the forecast of the real economy evolution and for the financial market system from Romania using elements from the open systems thermodynamics”, a project that proposes...
Persistent link: https://www.econbiz.de/10009143825
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Cross-border Capital Flows since the Global Financial Crisis
Rankin, Ewan; James, Elliot; McLoughlin, Kate - In: RBA Bulletin (2014) June, pp. 65-72
, from and within the euro area – as banks have unwound many of the cross-border positions they built up before the crisis …
Persistent link: https://www.econbiz.de/10011129953
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Luxembourg; 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Luxembourg
International Monetary Fund (IMF); International … - 2009
financial crisis, waning confidence, and euro area recession. …
Persistent link: https://www.econbiz.de/10011244188
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India; 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India
International Monetary Fund (IMF); International … - 2009
India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are putting it under strain. The staff report for India’s 2008 Article IV Consultation discusses economic developments and policies. The authorities have already taken...
Persistent link: https://www.econbiz.de/10011244299
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Uruguay; Second Review under the Stand-By Arrangement, Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria, and Extension of Repurchase Exp...
International Monetary Fund (IMF); International … - 2006
Uruguay’s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...
Persistent link: https://www.econbiz.de/10011245054