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Ipo Behavior in Gcc Countries : Goody-Two Shoes or Bad-To-The-Bone?
International Monetary Fund - 2007
This paper documents the phenomenon of underpricing initial public offerings (IPOs) for 47 firms that went public … returns of 290 percent exceed those found in the existing literature for both developed and emerging markets IPOs. Although … the IPOs'' returns over the one-year horizon beat the market index benchmark, they present negative abnormal returns once …
Persistent link: https://www.econbiz.de/10014400128
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The Sensitivity of Secondary Sovereign Loan Market Returns to Macroeconomlc Fundamentals
International Monetary Fund - 1990
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 …
Persistent link: https://www.econbiz.de/10014396212
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Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets
International Monetary Fund - 2009
markets are found to a¤ect both conditional returns and volatility, with the e¤ects on volatility being more pronounced and …
Persistent link: https://www.econbiz.de/10014404285
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Asset Prices and Time-Varying Risk
International Monetary Fund - 1988
Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas in a model environment of time-varying risk. Some work by Abel provided us with...
Persistent link: https://www.econbiz.de/10014396175
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Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation
International Monetary Fund - 1988
This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an optimizing model in which the process of capital accumulation entails adjustment costs. The analysis demonstrates that along an adjustment path toward long-run equilibrium,...
Persistent link: https://www.econbiz.de/10014396304
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Israel; Detailed Assessment of IOSCO Objectives and Principles of Securities Regulation
International Monetary Fund (IMF); International … - 2012
Israel’s compliance with International Organization of Securities Commissions’ objectives and Principles of Securities Regulation has been assessed. The regulatory regime is well developed and in most respects is comparable with that of major jurisdictions. For the most part, it is...
Persistent link: https://www.econbiz.de/10011242660
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Japan; Financial Sector Assessment Program—Technical Note on Credit Intermediation
International Monetary Fund (IMF); International … - 2012
This paper is an analysis of Japan’s credit channel. The economic condition has no hindrance, but credit demand showed an inert performance. The state’s policies have helped the flow of finance and prevent bankruptcy, but several other aspects act as an impediment to credit...
Persistent link: https://www.econbiz.de/10011244991
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Cape Verde; Statistical Appendix
International Monetary Fund (IMF); International … - 2006
The report provides the IMF's projections and estimates of Cape Verde on selected economic and financial indicators, 2001–05; social and demographic indicators, 2001–04; consumer prices; gross domestic product sources and uses of resources; gross domestic product by industry at current...
Persistent link: https://www.econbiz.de/10011244151
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Australia; Selected Issues
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper on Australia highlights the IMF’s new Global Integrated Monetary and Fiscal Model (GIMF), which is used to examine the macroeconomic implications of alternative fiscal responses to higher revenue. Lower labor and capital income taxes, along with higher public...
Persistent link: https://www.econbiz.de/10011244382
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United States; Selected Issues
International Monetary Fund (IMF); International … - 2012
This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower...
Persistent link: https://www.econbiz.de/10011244682