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Asset Price Bubbles; A Selective Survey
Scherbina, Anna - International Monetary Fund (IMF) - 2013
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard rational models, the new literature is able to model...
Persistent link: https://www.econbiz.de/10011242201
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The Pacific Speed of Growth; How Fast Can It Be and What Determines It?
Yang, Yongzheng; Chen, Hong; Singh, Shiu raj; Singh, Baljeet - International Monetary Fund (IMF) - 2013
lower investment and exports compared with other small island states, but greater political stability, catch-up effects from …
Persistent link: https://www.econbiz.de/10011242206
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Investment-Led Growth in China; Global Spillovers
Ahuja, Ashvin; Nabar, Malhar - International Monetary Fund (IMF) - 2012
Over the past decade, China’s growth model has become more reliant on investment and its footprint in global imports … has widened substantially. Several economies within China’s supply chain are increasingly exposed to its investment …-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10011242248
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The East African Community; Prospects for Sustained Growth
McAuliffe, Catherine; Saxena, Sweta Chaman; Yabara, Masafumi - International Monetary Fund (IMF) - 2012
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of...
Persistent link: https://www.econbiz.de/10011242354
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Procyclical Behavior of Institutional Investors During the Recent Financial Crisis; Causes, Impacts, and Challenges
Papaioannou, Michael G; Park, Joonkyu; Pihlman, Jukka; … - International Monetary Fund (IMF) - 2013
This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the … implications of procyclical behavior; and (iv) proposes a framework for sound investment practices for long-term investors. Such … procyclical investment behavior is understandable and may be considered rational from an individual institution’s perspective …
Persistent link: https://www.econbiz.de/10011242388
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Banking and Trading
Boot, Arnoud W.A.; Ratnovski, Lev - International Monetary Fund (IMF) - 2012
We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with...
Persistent link: https://www.econbiz.de/10011142044