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The Sensitivity of Secondary Sovereign Loan Market Returns to Macroeconomlc Fundamentals

International Monetary Fund - 1990

arbitrage pricing theory framework. Returns are characterized by a limited response to unexpected changes in procyclical U … data to meet the empirical arbitrage pricing theory restrictions and the large proportion of return variance unexplained by …

Persistent link: https://www.econbiz.de/10014396212

Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …

Persistent link: https://www.econbiz.de/10014399797

Remoteness and Real Exchange Rate Volatility

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing … higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We …

Persistent link: https://www.econbiz.de/10014404193

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

International financial statistics. Supplement on Fund accounts

1982

Persistent link: https://www.econbiz.de/10000580072

Funding the IMF

International Monetary Fund - 2005

This paper discusses reasons functions of the IMF, why it needs more resources, and how these resources will be used. The IMF provides a forum for cooperation, having as its objective the balanced expansion of international trade in order to stimulate employment and improve economic conditions...

Persistent link: https://www.econbiz.de/10014397526

Tonga : Selected Issues and Statistical Appendix

International Monetary Fund - 2007

This Selected Issues paper assesses the fiscal risk impact of various events in Tonga and describes the challenges implied for fiscal management. The paper discusses that the Tongan government has made various efforts to limit the budgetary implications of the recent economic and political...

Persistent link: https://www.econbiz.de/10014403213

Tonga : Selected Issues and Statistical Appendix

International Monetary Fund - 2003

This Selected Issues paper and Statistical Appendix reviews the past conduct of monetary policy of Tonga. The paper considers the problems in the current system and discusses the policy options available to the authorities. It reviews Tonga’s exchange rate policy and explores its effectiveness...

Persistent link: https://www.econbiz.de/10014406527

Framework Administered Account for Selected Fund Activities : International Forum Sovereign Wealth Funds Subaccount

International Monetary Fund - 2012

In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the 'SFA Instrument'). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a...

Persistent link: https://www.econbiz.de/10014409986

Guarding Against Fiscal Risks in Hong Kong SAR

International Monetary Fund - 2007

volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After … fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility …

Persistent link: https://www.econbiz.de/10014400988

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