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Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions

International Monetary Fund - 1999

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing … for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that … neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior. The …

Persistent link: https://www.econbiz.de/10014400163

Interest Rate Volatility and Risk in Indian Banking

International Monetary Fund - 2004

assess the interest rate risk carried by a sample of Indian banks in March 2002. We find evidence of substantial exposure to …

Persistent link: https://www.econbiz.de/10014404135

Exchange Rate Volatility and World Trade

International Monetary Fund - 1984

In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...

Persistent link: https://www.econbiz.de/10014406218

Social Security Tax Reform and Unemployment : A General Equilibrium Analysis for France

International Monetary Fund - 1997

This paper develops and calibrates a simple general equilibrium model with two types of labor and capital for the French economy. The simulation results indicate that targeted reductions in employer social security taxes have six times as large an effect on employment as untargeted reductions...

Persistent link: https://www.econbiz.de/10014401626

Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi-country Ricardian model of trade, based on the work of Eaton and Kortum (2002), into a macroeconomic model to show how bilateral real exchange rate volatility depends on relative technological...

Persistent link: https://www.econbiz.de/10014399797

Corruption and Military Spending

International Monetary Fund - 2000

Anecdotal evidence relates corruption with high levels of military spending. This paper tests empirically whether such a relationship exists. The empirical analysis is based on data from four different sources for up to 120 countries in the period 1985–98. The association between military...

Persistent link: https://www.econbiz.de/10014399916

Income Inequality and Redistributive Government Spending

International Monetary Fund - 2003

The paper examines empirically the question of whether more unequal societies spend more on income redistribution than their more egalitarian counterparts. Theoretical arguments on this issue are inconclusive. The political economy literature suggests that redistributive spending is higher in...

Persistent link: https://www.econbiz.de/10014400085

Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market

International Monetary Fund - 1990

This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...

Persistent link: https://www.econbiz.de/10014396173

Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market

International Monetary Fund - 1990

This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...

Persistent link: https://www.econbiz.de/10014396182

The Dynamics of Money Demand and Prices

International Monetary Fund - 1990

The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its...

Persistent link: https://www.econbiz.de/10014395786