This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term structure models, specifically the Nelson-Siegel Model and Affine Term- Structure Model, this paper estimates the terms structure of Treasury bond yields for the United States with...

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...

Fiscal rules are being increasingly used by both emerging and developed economies. This paper analyzes two alternative fiscal policy rules in terms of their impact on debt sustainability: a rule that fixes the ratio of primary surplus to GDP (""fixed surplus rule"") and one that sets the primary...

This paper on Poverty Reduction Strategy Papers on Guinea explains medium-term development framework to achieve Millennium Development Goals and fulfill the authorities’ vision of Guinea as an emerging economy in 15 to 25 years, respectful of human rights and gender equality and...

This paper presents Selected Decisions and Selected Documents' Supplement to Eighth issue of the IMF. This volume, which is presented as a Supplement to the Eighth Issue of Selected Decisions of the IMF and Selected Documents includes general decisions adopted by the IMF since May 10, 1976, the...

This paper presents Selected Decisions and Selected Documents' Ninth Issue of the IMF. This volume, the Ninth Issue of Selected Decisions of the IMF and Selected Documents, contains the decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF to...

This paper explains various selected decisions of the IMF's Executive Directors. The IMF has examined certain problems relating to the adjustment of its holdings of fluctuating currencies and to transactions and computations involving such currencies and has come to several conclusions. The IMF...

This paper presents Selected Decisions and Selected Documents' Eleventh Issue of the IMF. This volume, the Eleventh Issue of Selected Decisions of the IMF and Selected Documents, presents the decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF...

This paper proposes for adoption by the Executive Board as guidelines for Committees of the Executive Board when considering the amount of a subscription that should be paid in reserve assets. In applying the guidelines, a Committee shall pay due regard to present and prospective economic and...

This paper presents Selected Decisions and Selected Documents' Third Issue of the IMF. Dealings in paper money and coins are deemed to be 'other exchange transactions' within the meaning of Article IV, Section 3, whether or not the importation and exportation of such money and coins to and from...