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While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted...
Persistent link: https://www.econbiz.de/10012646631
This paper presents a technical note on Mexico’s Financial Sector Assessment Program update. The Mexican experience displays interesting characteristics that provide lessons for other countries that still need to design the decumulation phase of their newly established second pillars. The...
Persistent link: https://www.econbiz.de/10014404999
observed in the quality of consumer loan portfolio, the foreign exchange mortgage loan portfolio also presents vulnerabilities …
Persistent link: https://www.econbiz.de/10011242967
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
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
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 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 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
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
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