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predictions of the theory …
Persistent link: https://www.econbiz.de/10014396348
Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises....
Persistent link: https://www.econbiz.de/10014400253
This paper outlines a procedure for calculating the cash value of “menu items” in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or principal guarantees. It is argued that under certain plausible assumptions interest and...
Persistent link: https://www.econbiz.de/10014396239
Persistent link: https://www.econbiz.de/10014409912
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...
Persistent link: https://www.econbiz.de/10014406218
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
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
Persistent link: https://www.econbiz.de/10014409758
This Technical Note reviews Systemic Liquidity Management in Serbia. The liquidity management framework in Serbia … is generally a function of the quality of the systemic liquidity management by the central bank, the technical capability …
Persistent link: https://www.econbiz.de/10014404436
This paper presents key findings of the Financial System Stability Assessment for the Slovak Republic, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, and Banking Supervision. Successful stabilization and an ambitious structural reform...
Persistent link: https://www.econbiz.de/10014407321