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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
Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global...
Persistent link: https://www.econbiz.de/10014408459
There is a widespread view that the adjustment of U.S. trade prices--and hence merchandise trade flows--in the face of the substantial dollar depreciation since early 1985 has been slower than might have been expected. This paper examines the recent behavior of U.S. trade prices, and concludes...
Persistent link: https://www.econbiz.de/10014396298
Am 3. Januar 1992 stellte der Präsident der russischen Föderation den offiziellen Antrag auf Aufnahme in den IMF und die Weltbankgruppe. Bereits seit November 1991 besuchten IMF-Experten Moskau, um mit den russischen Behörden die Wirtschaftspolitik zu besprechen, eine fundierte...
Persistent link: https://www.econbiz.de/10000323678
A joint IMF-World Bank mission visited the Russian Federation from March 15 to 31, 2016, to conduct an assessment under the Financial Sector Assessment Program (FSAP). The mission assessed financial sector risks and vulnerabilities, assessed the quality of financial sector supervision, and...
Persistent link: https://www.econbiz.de/10012644832
industry also faced with the consequences of the Western economic sanctions which effectively closed access to the high quality … the sanctions list. In the past, the Western reinsurers provided over 80 percent of reinsurance capacity for such risks …. In the case of Russia, the main objective of insurance supervision is to ensure that insurers fully comply with core …
Persistent link: https://www.econbiz.de/10012644833
The overall state of financial inclusion in Russia is relatively advanced along certain basic metrics. The number of … increases experienced across all segments of the population, including for the poorest 40 percent and for women.1 Russia also …
Persistent link: https://www.econbiz.de/10012644834
well as responses to a questionnaire sent out in advance were provided by the Central Bank of Russia (CBR) before and … consequences of the Western economic sanctions which effectively closed access to the high quality Western reinsurance capacity for … the Russian insurers that provide coverage for 1500 large Russian companies that were put on the sanctions list. In the …
Persistent link: https://www.econbiz.de/10012644836
-lends or directly lends to firms, but does not collect retail deposits.1 There are also several smaller state-owned banks that …
Persistent link: https://www.econbiz.de/10012644837
Basel Core Principles (BCP) reflects the transitional nature of the supervisory practices in Russia at the time of the …
Persistent link: https://www.econbiz.de/10012246710