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Fat Tails and their (Un)Happy Endings : Correlation Bias and its Implications for Systemic Risk and Prudential Regulation

International Monetary Fund - 2011

The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim … holders’ preferred degree of asset correlation in portfolios held by the firm. Using the copula capital structure model, it is … shown that the correlation bias shifts shareholder preferences towards highly correlated assets, making financial …

Persistent link: https://www.econbiz.de/10014401318

A Noteon Saving-Investment Correlations in the EMS

International Monetary Fund - 1990

This paper extends recent work by Feldstein and Horioka (1980) and Bayoumi (1990), and examines saving-investment correlations for industrial countries in the post-war period. The focus of the enquiry is on differences observed between EMS and non-EMS countries. It is seen that the EMS countries...

Persistent link: https://www.econbiz.de/10014396141

Iceland : Statistical Appendix

International Monetary Fund - 1996

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Persistent link: https://www.econbiz.de/10014398074

The West Bank and Gaza : Economic Performance, Prospects, and Policies: Achieving Prosperity and Confronting Demographic Challenges

International Monetary Fund - 2001

This is the latest in a series of economic reports by staff economists in the IMF’s Middle Eastern Department. This book discusses the latest economic data coming out of the West Bank and Gaza Strip, with a particular emphasis on growing demographic concerns. The work is enhanced by the...

Persistent link: https://www.econbiz.de/10014400594

Fiscal Restraint, Demographic Change, and Social Services in Israel, 1985-1987, and Application of the Methodology to Latin America

International Monetary Fund - 1988

The paper analyzes the development of government social expenditure during the economic stabilization period, with specific reference to the changing needs for such expenditure arising from the change in Israel’s demographic structure. The results reveal a real cut in direct services. The...

Persistent link: https://www.econbiz.de/10014396494

Republic of Equatorial Guinea; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2006

This note analyzes the medium- and long-term prospects of the hydrocarbon sector as a source of growth. Substantial hydrocarbon and financial reserves implies a sizable upward shift in the sustainable expenditure path. Rather than suggesting a specific fiscal rule, four simple alternatives are...

Persistent link: https://www.econbiz.de/10011245295

Republic of Madagascar; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2005

This Selected Issues paper and Statistical Appendix analyzes the relationship among prices, income, and money in Madagascar over the period 1982â€“2004. It finds that a stable long-run relationship for the price level exists, but that the adjustment toward this long-term equilibrium is...

Persistent link: https://www.econbiz.de/10005825031

Azerbaijan Republic; Poverty Reduction Strategy Paper Progress Report

International Monetary Fund (IMF); International … - 2004

This paper examines the progress report on Azerbaijan Republicâ€™s Poverty Reduction Strategy Paper. The share of the production and non-oil sector in GDP has increased. The shares of industry, construction, wholesale, and retail and service sectors increased, while the shares of...

Persistent link: https://www.econbiz.de/10005768471

Mauritius; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2005

This Selected Issues paper and Statistical Appendix provide background information and analytical support for key policy issues discussed in the 2004 Article IV Consultation discussions with Mauritius. The impact of the erosion of trade preferences on exports, growth, and employment is assessed...

Persistent link: https://www.econbiz.de/10005591697

Cambodia; Poverty Reduction Strategy Paper

International Monetary Fund (IMF); International … - 2006

Cambodians have displayed tremendous resilience. The National Strategic Development Plan (NSDP) has been formulated using the comprehensive Rectangular Strategy of the Royal Government of Cambodia and synthesizes the Cambodia Millennium Development Goals (CMDG), the National Poverty Reduction...

Persistent link: https://www.econbiz.de/10011244053

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