Showing 1 - 10 of 241
This paper tests a version of Barro’s tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 1956-95 and 1964-97, respectively. The empirical results indicate that...
Persistent link: https://www.econbiz.de/10014400655
The scramble to expand deposit guarantees in Europe in response to recent financial turmoil confirms that the on-going integration of European financial markets requires closer coordination of prudential policies and financial safety nets. We study the optimal design of prudential supervision...
Persistent link: https://www.econbiz.de/10014401736
The Global Financial Safety Net (GFSN) has expanded considerably since 2008, including in the non-traditional elements of the safety net such as Regional Financing Arrangements (RFAs). The resulting multi-layered structure of the GFSN makes collaboration between its various elements more...
Persistent link: https://www.econbiz.de/10014408706
Persistent link: https://www.econbiz.de/10014408707
International Monetary Fund Managing Director Christine Lagarde delivered this address at the Library of Congress as part of the Library's Henry A. Kissinger Lecture Series in Washington, D.C. on December 4, 2018
Persistent link: https://www.econbiz.de/10014408376
Persistent link: https://www.econbiz.de/10000785501
This Selected Issues paper covers three topics of particular relevance to Mauritania: export competitiveness and exchange rate policy, the monetary policy framework, and the transfer of government deposits from commercial banks to the central bank. The paper reports on the recent economic...
Persistent link: https://www.econbiz.de/10014407289
This paper provides an overview of the likely impact of the creation of the European Community (EC) internal market on the European Free Trade Association (EFTA) members. The focus is on the four freedoms and the institutional and legal changes required for increased economic cooperation between...
Persistent link: https://www.econbiz.de/10014397158
This paper analyzes the implications of growing international economic integration for the conduct of structural policy. Section I points out that the internationalization of financial intermediation has raised the welfare costs associated with domestic distortions. The growing importance of...
Persistent link: https://www.econbiz.de/10014395773
This paper evaluates the effect of foreign debt on investment in a heavily-indebted country, using numerical simulations of a simple rational expectations growth model. Two particular effects are distinguished. First, the effect due to “debt overhang” of past accumulated debts; and second,...
Persistent link: https://www.econbiz.de/10014395782