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Euro Area Policies; 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries

International Monetary Fund (IMF); International … - 2007

The Euro Area Policiesâ€™ 2007 Article IV Consultation reports that the economy is poised for a sustained upswing because of cyclical considerations and policies, which have had a forward-looking cast. The areaâ€™s external position and the real effective exchange rate of the euro are...

Persistent link: https://www.econbiz.de/10011245374

Developing Essential Financial Markets in Smaller Economies; Stylized Facts and Policy Options

International Monetary Fund (IMF); International … - 2008

This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....

Persistent link: https://www.econbiz.de/10011245902

The Use of Mortgage Covered Bonds

Avesani, Renzo G.; Ribakova, Elina; Pascual, Antonio Garcia - International Monetary Fund (IMF) - 2007

The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability … mortgage covered bonds. From the issuer's perspective, these instruments have become an attractive funding source and a tool … mortgage portfolio. Our analysis also suggests that mortgage covered bonds could be of interest to other mature and emerging …

Persistent link: https://www.econbiz.de/10005826294

Is the Canadian Housing Market Overvalued? A+L4242 Post-Crisis Assessment

Tsounta, Evridiki - International Monetary Fund (IMF) - 2009

Canadian house prices have increased significantly between 2003 and early 2008, with a marked downward trend since mid-2008, especially in the resource-rich western provinces. This paper estimates the evolution of equilibrium real home prices during this period in key provinces and finds that,...

Persistent link: https://www.econbiz.de/10008540931

Canadian Residential Mortgage Markets; Boring But Effective?

Kiff, John - International Monetary Fund (IMF) - 2009

limit on residential mortgage loans in the Interest Act. That said, the availability and cost of residential loans for prime …

Persistent link: https://www.econbiz.de/10008528667

United States; Selected Issues

International Monetary Fund (IMF); International … - 2006

This paper discusses how financial innovation turned U.S. mortgages into an asset class with worldwide investor appeal. It suggests that U.S. financial markets have been skilful in developing tools that have helped households exploit favorable global financing conditions to boost home ownership...

Persistent link: https://www.econbiz.de/10011242944

Deciding to Enter a Monetary Union; TheRole of Trade and Financial Linkages

Lama, Ruy; Rabanal, Pau - International Monetary Fund (IMF) - 2012

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....

Persistent link: https://www.econbiz.de/10011242323

The East African Community; Prospects for Sustained Growth

McAuliffe, Catherine; Saxena, Sweta Chaman; Yabara, Masafumi - International Monetary Fund (IMF) - 2012

The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decadeâ€”the ambition of...

Persistent link: https://www.econbiz.de/10011242354

Trade Openness and Volatility

Levchenko, Andrei A.; Giovanni, Julian di - International Monetary Fund (IMF) - 2008

This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is...

Persistent link: https://www.econbiz.de/10010790347

Exchange Rate Regimes and the Stability of the International Monetary System

Ghosh, Atish R.; Ostry, Jonathan David; Tsangarides, … - International Monetary Fund (IMF) - 2011

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and...

Persistent link: https://www.econbiz.de/10010790495