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The sensitivity of secondary sovereign loan market returns to three classes of economic news is estimated in the arbitrage pricing theory framework. Returns are characterized by a limited response to unexpected changes in procyclical U.S. aggregates. Shocks to country-specific balance of payment...
Persistent link: https://www.econbiz.de/10014396212
This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond markets are found to a¤ect both conditional...
Persistent link: https://www.econbiz.de/10014404285
Executive Directors welcomed the report by the Independent Evaluation Office (IEO) on the IMF and the Crises in Greece …
Persistent link: https://www.econbiz.de/10014408604
Greece, Ireland, and Portugal as part of the Management and staff follow-up to an IEO evaluation. The implementation plan …
Persistent link: https://www.econbiz.de/10014408692
This Selected Issues paper and Statistical Appendix reviews fiscal developments in Greece, comparing its revenue and …
Persistent link: https://www.econbiz.de/10014397239
This Selected Issue paper provides an overview of the public pension system in Greece, and of prospective pension …-related spending pressures. The paper reviews the structure of Greece’s pension system and compares some basic parameters of the Greek … pension system with those of other European Union economies. It provides an overview of demographic projections for Greece in …
Persistent link: https://www.econbiz.de/10014406333
This 2001 Article IV Consultation highlights that strong economic growth continued in Greece in 2001, but the economy …
Persistent link: https://www.econbiz.de/10014406335
This 2005 Article IV Consultation highlights that economic growth in Greece has been strong for several years …
Persistent link: https://www.econbiz.de/10014403111
The recession is unfolding in line with expectations. Inflation is higher than expected from indirect tax hikes. The key challenges remain restoring fiscal sustainability, safeguarding financial sector stability, and boosting competitiveness—and hence growth and employment. Staff and...
Persistent link: https://www.econbiz.de/10014403550
Greece has made a strong start with the program, but challenges also remain evident. The economic response to the …
Persistent link: https://www.econbiz.de/10014403712