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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

What Drives China's Interbank Market?

International Monetary Fund (IMF); International … - 2009

Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and … regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We …

Persistent link: https://www.econbiz.de/10008528670

Are House Prices Rising too Fast in China?

International Monetary Fund (IMF); International … - 2010

of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem …€™ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China … China has, and will continue to have,a structural driver. …

Persistent link: https://www.econbiz.de/10008777035

Are House Prices Rising too Fast in Hong Kong SAR?

International Monetary Fund (IMF); International … - 2010

Sharp increase in house prices in Hong Kong SAR in 2009-2010 has led to concerns of an emerging real estate bubble. According to our measure of price deviation from fundamentals, which should be taken as an early warning indicator of market exuberance, the current level of house prices in Hong...

Persistent link: https://www.econbiz.de/10008777036

Indonesia; Selected Issues

International Monetary Fund (IMF); International … - 2012

This selected issues paper on Indonesia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on August 21, 2012. The views expressed...

Persistent link: https://www.econbiz.de/10011243208

Peopleâ€™s Republic of China: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Peopleâ€™s Republic of China

International Monetary Fund (IMF); International … - 2014

trading partners. However, in the medium term, income and consumption will both be higherâ€”a result that is good for China …

Persistent link: https://www.econbiz.de/10011243741

People's Republic of China; 2013 Article IV Consultation

International Monetary Fund (IMF); International … - 2013

This staff report on Peopleâ€™s Republic of China 2013 Article IV Consultation highlights macroeconomic developments … and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment …

Persistent link: https://www.econbiz.de/10011244201

Peru: Selected Issues Paper

International Monetary Fund (IMF); International … - 2014

This Selected Issues paper examines application of fiscal framework alternatives to the case of Peru. Although growth has been at historical highs over the last decade, Peru still has an important infrastructure gap and a quarter of its population still lives in poverty. This paper applies...

Persistent link: https://www.econbiz.de/10011244249

People’s Republic of China : 2005 Article IV Consultation — Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund - 2005

The staff report for the 2005 Article IV Consultation on the People’s Republic of China highlights economic … imbalances would also threaten China’s growth, as economic activity in all countries would likely suffer lingering adverse …

Persistent link: https://www.econbiz.de/10014405552