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Following Germany'S Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policyon the Economy

International Monetary Fund - 2005

-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany … policy. The results confirm a considerable downward bias of estimates that do not account for potential forward …

Persistent link: https://www.econbiz.de/10014400699

Fat Tails and their (Un)Happy Endings : Correlation Bias and its Implications for Systemic Risk and Prudential Regulation

International Monetary Fund - 2011

The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim … shown that the correlation bias shifts shareholder preferences towards highly correlated assets, making financial …

Persistent link: https://www.econbiz.de/10014401318

Advancing the frontiers of monetary policy

Adrian, Tobias (ed.); Laxton, Douglas (ed.); … - 2018

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including …Part I. The frontiers of monetary policymaking. 1. An overview of inflation-forecast targeting -- Part II. Principles … and practices of inflation-forecast targeting. 2. First principles -- 3. Managing expectations -- 4. Nuts and bolts of a …

Persistent link: https://www.econbiz.de/10011874333

Staff Studies for the World Econ Outlook

International Monetary Fund - 1987

This paper reviews the long-term growth performance of the major industrial countries and discusses some of the many factors that have been identified as possible sources of the marked slowdown in growth since the early 1970s. According to the view of different demographic developments across...

Persistent link: https://www.econbiz.de/10014400806

Pension Reform in Belgium

International Monetary Fund - 1996

This paper reviews the financial implications of aging for the pension system in Belgium during 1995-2050. Our simulations indicate a strong rise in pension expenditure over the next half century, as is the case in other industrialized countries. In Belgium, the problem is particularly acute in...

Persistent link: https://www.econbiz.de/10014396528

Can Regional Cross-Listings Accelerate Stock Market Development? : Empirical Evidence From Sub-Saharan Africa

International Monetary Fund - 2008

This study analyzes the impact of regional cross-listing of stocks on the depth of the stock markets in sub-Saharan Africa (SSA). It analyzes data from 1990 to 2007 for a panel of 13 stock markets in SSA countries, only some of which have regional cross-listings. Using event study methodology,...

Persistent link: https://www.econbiz.de/10014401983

Asset Prices and Time-Varying Risk

International Monetary Fund - 1988

Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas in a model environment of time-varying risk. Some work by Abel provided us with...

Persistent link: https://www.econbiz.de/10014396175

Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation

International Monetary Fund - 1988

This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an optimizing model in which the process of capital accumulation entails adjustment costs. The analysis demonstrates that along an adjustment path toward long-run equilibrium,...

Persistent link: https://www.econbiz.de/10014396304

Steuerreform und Lohnsteueraufkommen in Deutschland - Simulationen auf Basis der Lohnsteuerstatistik.

Boss, Alfred; Elendner, Thomas - Kiel Institute for the World Economy - 2003

Persistent link: https://www.econbiz.de/10008609972

Budgetausgleich in Deutschland im Jahr 2004?.

Boss, Alfred; Scheide, Joachim - Kiel Institute for the World Economy - 2002

Persistent link: https://www.econbiz.de/10008575508

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