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Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank
International Monetary Fund - 1998
Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is...
Persistent link: https://www.econbiz.de/10014400820
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Sterilizing Capital inflows
International Monetary Fund - 1997
Developing countries fortunate enough to experience capital inflows haveseen rising levels of investment and enhanced economic growth. Capitalinflows have a negative side, however, in that they tend to appreciatethe domestic currency, making exports less competitive, and to encourageinflation....
Persistent link: https://www.econbiz.de/10014402762
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External Adjustment and the Optimal Demand for International Reserves
International Monetary Fund - 1989
This paper provides a theoretical underpinning for the major determinants of optimal reserve demand in the case where fundamental disequilibrium constitutes a key element governing reserve management. Emphasis is given to the role of reserves to smooth the process of economic adjustment by...
Persistent link: https://www.econbiz.de/10014396133
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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
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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
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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...
Persistent link: https://www.econbiz.de/10014400163
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Kingdom of the Netherlands : Netherlands: Selected Issues-The Labor Income Tax Credit in an International Perspective
International Monetary Fund - 2001
Compared with its U.S. and U.K. counterparts, the Labor Tax Credit (LTC) is likely to have more limited effects on incentives for primary-earners to enter the labor force, because of the smaller size of the credit. Any significant increase in the LTC to strengthen its effect on the still large...
Persistent link: https://www.econbiz.de/10014407669
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Canada : 2010 Article IV Consultation-Staff Supplement; Staff Report; and Public Information Notice on the Executive Board Discussion
International Monetary Fund - 2010
Canada to exit the global crisis on a strong footing. Executive Directors encouraged authorities to maintain their prudent … that Canada is well positioned to adapt its financial regulatory framework to emerging international initiatives. Further …
Persistent link: https://www.econbiz.de/10014401889
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Canada : Selected Issues Paper
International Monetary Fund - 2010
Canada has experienced drastic changes in its economy during the global financial crisis. This Selected Issues paper … movement during and after the global financial turmoil in line with other world currencies, assessment of impacts on Canada …’s potential growth, development of Canadian automotive sector—namely, NAFTA partners during the crisis, and the role of Canada …
Persistent link: https://www.econbiz.de/10014401890
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Canada : Staff Report for the 2000 Article IV Consultation
International Monetary Fund - 2000
, now in its eighth consecutive year of expansion, and welcomed Canada's participation in Financial System Stability …
Persistent link: https://www.econbiz.de/10014401905