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Optimal Fiscal Policy and Government Provision of Contingent Liabilities : The Example of Government Loan and Deposit Guarantees

International Monetary Fund - 1989

The optimal provision of loan guarantees or deposit insurance is examined in the context of an overlapping generations model. It is demonstrated that even in the face of a market imperfection that precludes diversification of the private sector’s loan portfolio to eliminate risk, full...

Persistent link: https://www.econbiz.de/10014395814

Dependency Rates and Private Savings Behavior in Developing Countries

International Monetary Fund - 1988

A firm theoretical basis for the empirical relationship between dependency rates and savings behavior in developing countries is still lacking. Two demographic extensions of the representative household’s stochastic dynamic optimization problem are presented here. It is shown that the...

Persistent link: https://www.econbiz.de/10014395881

The Effects of Financial Deregulationon Consumption

International Monetary Fund - 1989

This paper examines whether financial deregulation in the 1980s has reduced the importance of liquidity constraints in consumption patterns. Data for six industrialized countries are used to estimate a simple model incorporating liquidity constraints and forward looking behavior. It is concluded...

Persistent link: https://www.econbiz.de/10014396051

Macroeconomic and Sectoral Effects of Terms-Of-Trade Shocks : The Experience of the Oil-Exporting Developing Countries

International Monetary Fund - 1999

This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are largely importable or the labor supply is sufficiently elastic, then natural-resource booms increase aggregate investment and worsen the current account, but Dutch ‘Disease’...

Persistent link: https://www.econbiz.de/10014400547

Consumer Price Index Manual : Theory, 2025

International Monetary Fund - 2025

The Theory publication and the companion on the practice of compiling consumer price indices (CPIs) is jointly … the update of the Theory publication and the CPI Manual. Drafting of this publication was led by Erwin Diewert with … support from various authors. The Theory publication will be translated into Spanish, French, Arabic, and Russian …

Persistent link: https://www.econbiz.de/10015452128

Fund's Concepts of Convertibility

International Monetary Fund - 1971

This paper examines the IMF's concepts of convertibility and gives some impression of their purposes. The central concept of convertibility in the Articles is the convertibility of Article VIII, Sections 2, 3, and 4. Under it, the basic rule is that members must avoid restrictions on the making...

Persistent link: https://www.econbiz.de/10014394420

Maintenance of the Gold Value of the Fund's Assets

International Monetary Fund - 1971

This paper discusses Article IV, Section 8 of the Articles of Agreement which states the requirement of maintenance of the gold value of the IMF's assets. Each member of the IMF is bound to maintain the gold value of the IMF's holdings of the member's currency notwithstanding changes in the par...

Persistent link: https://www.econbiz.de/10014394421

Trade Dependency, Bargaining and External Debt

International Monetary Fund - 1988

This paper analyzes the factors determining the payment on outstanding debt in the presence of partial defaults, and the feasibility of renewed investment. We show that a higher relative size of sectors with lower substitutability between domestic and foreign products will increase the resource...

Persistent link: https://www.econbiz.de/10014395302

Financial, Exchange Rate, and Wage Policies in Singapore, 1979-1886

International Monetary Fund - 1988

This paper discusses the unique aspects of Singapore’s financial, exchange rate, and wage policies during the period 1979-86, and attempts to quantify the impact of alternative policies on major macroeconomic variables. For this purpose, a simple short-term model is formulated and estimated,...

Persistent link: https://www.econbiz.de/10014395760

Credibility and Nominal Debt : Exploring the Role of Maturity in Managing Inflation

International Monetary Fund - 1989

This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation to reduce the ex post real value of its nominal liabilities. The maturity structure of government debt is shown to be a powerful instrument to affect the time profile of the...

Persistent link: https://www.econbiz.de/10014395780