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Bank Consolidation and Performance : The Argentine Experience
International Monetary Fund - 2004
We examine a large panel of more than 100 banks from Argentina to study the effects of bank consolidation on … performance between December 1995 and December 2000, a period of heavy bank consolidation and relative calm. Overall, we find a … positive and significant effect of bank consolidation on bank performance. Bank returns increase with consolidation, and …
Persistent link: https://www.econbiz.de/10014401147
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Macrofinance Model of the Czech Economy : Asset Allocation Perspective
International Monetary Fund - 2012
The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine months. These yield misalignments tend to persist for a number of months. This...
Persistent link: https://www.econbiz.de/10014396906
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Potential Role SDR Diversified Currency Portfolios Central Bank
International Monetary Fund - 1988
This paper compares the SDR in terms of its risk-return characteristics relative to those of its five components and, on this basis, finds that the SDR has performed favorably over the period under review. In addition, several efficient portfolios including the SDR and its components are...
Persistent link: https://www.econbiz.de/10014396007
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When in Peril, Retrench : Testing the Portfolio Channel of Contagion
International Monetary Fund - 2004
One plausible mechanism through which financial market shocks may propagate across countries is through the effect of past gains and losses on investors'' risk aversion. We first present a simple model on how heterogeneous changes in investors'' risk aversion affect portfolio decisions and stock...
Persistent link: https://www.econbiz.de/10014402038
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Elasticity Optimism
International Monetary Fund - 2009
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10014402215
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Poverty Reduction and Growth Trust : 2017 Borrowing Agreements with the Bank of Spain, the Government of Japan and the People's Bank of China
International Monetary Fund - 2017
the People's Bank of China (China). The new borrowing agreement with Spain, the amendments to the NPA with Japan, and the …the Poverty Reduction and Growth Trust (PRGT or Trust), has entered into a new borrowing agreement with the Bank of … new NPA with China provide new resources of SDR 450 million, SDR 1.8 billion and SDR 800 million, respectively, to the …
Persistent link: https://www.econbiz.de/10014408739
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Slovak Republic; Financial System Stability Assessment Update, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision and Insurance...
International Monetary Fund (IMF); International … - 2007
markets remain small. Although rapid, the rate of bank credit growth seems appropriate, given the strong outlook for the …
Persistent link: https://www.econbiz.de/10011244278
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Former Yugoslav Republic of Macedonia; Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program: Staff Report; Staff...
International Monetary Fund (IMF); International … - 2007
This paper discusses the Former Yugoslav Republic of Macedonia’s Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program. The 2007 fiscal deficit target increased modestly to 1 percent of GDP. Taxes were cut and budget...
Persistent link: https://www.econbiz.de/10011244281
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Austria: Publication of Financial Sector Assessment Program Documentation—Technical Note on Crisis Preparedness and Management Framework
International Monetary Fund (IMF); International … - 2014
weaknesses in Austria’s financial stability policy framework. Austria needs to put in place a special bank resolution regime to … authorities prefer to await the formal adoption of the European Union (EU) Directive on bank recovery and resolution, it would be … in Austria’s interest to swiftly introduce a full-fledged bank resolution framework, with a wide range of tools and …
Persistent link: https://www.econbiz.de/10011244325
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Israel; Technical Note on Stress Test of the Banking, Insurance and Pension Sectors
International Monetary Fund (IMF); International … - 2012
A technical note on the stress test of Israel’s banking, insurance, and pension sectors is presented. The Israel Financial Sector Assessment Program Update stress testing exercise comprises a comprehensive analysis of solvency and liquidity risks of key banking and insurance institutions....
Persistent link: https://www.econbiz.de/10011244431