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Deconstructing the International Business Cycle : Why Does a U.S. Sneeze Give the Rest of the World a Cold?

International Monetary Fund - 2010

The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the largest global slowdown since the 1930s. We estimate spillover effects across major advanced country regions in a structural VAR (SVAR) using pre-crisis data. Our new method...

Persistent link: https://www.econbiz.de/10014402644

Model of the U.S. Current Account

International Monetary Fund - 1988

This paper presents an econometric model of U.S. current account transactions. The model is used to analyze the factors behind the deterioration in the U.S. external position during the 1980s and to examine the sensitivity of the U.S. current account balance to changes in factors which are its...

Persistent link: https://www.econbiz.de/10014396470

Money Demand in the United States

International Monetary Fund - 1988

This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an “error...

Persistent link: https://www.econbiz.de/10014396094

Denmark : Financial Sector Assessment Program: Technical Note: The Danish Mortgage Market: A Comparative Analysis

International Monetary Fund - 2007

This technical note presents a comparative analysis of the Danish Mortgage Market. It discusses the particularities of … the regulatory framework of the Danish mortgage system. The note compares and contrasts mortgage financing in Denmark and … evolutions, which could have potentially far-reaching consequences for the Danish mortgage system, are elaborated. The note also …

Persistent link: https://www.econbiz.de/10014407250

Negative Interest Rate Policies-Initial Experiences and Assessments

International Monetary Fund - 2017

The depth of the crisis and the weakness of the ensuing recovery led to new ways to implement monetary policy. At the onset of the crisis, central banks in several advanced economies quickly moved policy rates to zero and initiated large-scale asset purchases. In more recent years, with...

Persistent link: https://www.econbiz.de/10014408638

Poverty Reduction and Growth Trust Interest Rate Mechanism : Extension of Temporary Interest Rate Waiver

International Monetary Fund - 2012

In recent months, a number of Directors have expressed support in the Executive Board for a further extension of the temporary exceptional interest waiver on concessional lending. An extension would send a signal of the Fund's continued support for Low-Income Countries at a time when the global...

Persistent link: https://www.econbiz.de/10014410374

The SDR Interest Rate Basket : Proposed Change of the Representative Interest Rate for the Euro and Amendment to Rule T-1(C)

International Monetary Fund - 2014

The three-month Eurepo interest rate, the euro component of the SDR interest rate basket, will be discontinued as of the end of 2014. The three-month Eurepo rate, administered by the European Money Market Institute (EMMI), has been the representative interest rate instrument of the euro area in...

Persistent link: https://www.econbiz.de/10014410559

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

International Monetary Fund - 1988

Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large multicountry econometric models, apparently primarily because these models have...

Persistent link: https://www.econbiz.de/10014396137

Valuing Interest Payment Guaranteeson Developing Country Debt

International Monetary Fund - 1990

This paper develops a technique to value guarantees on interest payments on developing-country debt, and provides some preliminary estimates of the cost of such guarantees. The cost of interest payment guarantees is not directly observable because a guarantee is a contingent obligation that...

Persistent link: https://www.econbiz.de/10014395991

Interest Rate Policies, Stabilization, and Bank Supervision in Developing Countries : Strategies for Financial Reforms

International Monetary Fund - 1990

This paper identifies macroeconomic stability, effective bank supervision, and an appropriate sequencing of stabilization, banking regulations, and interest rate policies as common characteristics of the relatively successful experiments in financial sector liberalization. Recent theoretical...

Persistent link: https://www.econbiz.de/10014396107

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