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Monetary Policy in Hybrid Regimes: The Case of Kazakhstan

Epstein, Natan P.; Portillo, Rafael - International Monetary Fund (IMF) - 2014

This paper analyzes the monetary policy framework in Kazakhstan. The authorities have been successful in containing inflation in the context of a managed exchange rate regime. Over the past two years, the central bank has taken steps to enhance its ability to regulate liquidity in the financial...

Persistent link: https://www.econbiz.de/10011142107

Romania; Request for a Stand-By Arrangement

International Monetary Fund (IMF); International … - 2013

This paper discusses Romaniaâ€™s Request for a Stand-By Arrangement (SBA). Since the 2008 global financial crisis, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers. However, Romania remains vulnerable to external shocks,...

Persistent link: https://www.econbiz.de/10011245005

Contingent Capital; Economic Rationale and Design Features

Pazarbasioglu, Ceyla; Zhou, Jian-Ping; Leslé, Vanessa Le; … - International Monetary Fund (IMF) - 2011

The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversight and resolution frameworks. In particular, many governments in the crisis-hit countries had to provide unprecedented levels of support to contain...

Persistent link: https://www.econbiz.de/10011245888

Remittances and Vulnerability in Developing Countries

Bettin, Giulia; Presbitero, Andrea; Spatafora, Nicola - International Monetary Fund (IMF) - 2014

This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. We exploit a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 107 developing...

Persistent link: https://www.econbiz.de/10011142103

Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy

Lusinyan, Lusine; Muir, Dirk - International Monetary Fund (IMF) - 2013

Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor …

Persistent link: https://www.econbiz.de/10011142132

European Productivity, Innovation and Competitiveness: The Case of Italy

Tiffin, Andrew - International Monetary Fund (IMF) - 2014

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper … Italyâ€™s export market share. Overall, Italy maintains a high-quality export mix, and the adaptability of small …

Persistent link: https://www.econbiz.de/10011142167

Transmission of Financial Stress in Europe: The Pivotal Role of Italy and Spain, but not Greece

González-Hermosillo, Brenda; Johnson, Christian A - International Monetary Fund (IMF) - 2014

Germany, Greece, Ireland, Italy, Spain and Portugal. The stability of Germany is a close proxy for the resilience of the euro … during 2009â€“12 were due to idiosyncratic factors, market developments in Italy and Spain contributed significantly, likely …€™s sovereign CDS despite initial widespread concerns about such linkages. Spain and Italy show a notable co-dependence in …

Persistent link: https://www.econbiz.de/10011142190

Reforming Tax Expenditures in Italy: What, Why, and How?

Tyson, Justin - International Monetary Fund (IMF) - 2014

efficiency, equity, and administrative and compliance costs. This paper analyzes tax expenditures in Italy, considering the …

Persistent link: https://www.econbiz.de/10011123882

Italian Sovereign Spreads; Their Determinants and Pass-through to Bank Funding Costs and Lending Conditions

Zoli, Edda - International Monetary Fund (IMF) - 2013

Volatility in Italian sovereign spreads has increased since mid-2011. This paper finds that news on the euro area debt crisis and country specific events were important drivers of sovereign spreads. Movements in sovereign spreads affect CDS spreads and bond yields of Italian banks, and are...

Persistent link: https://www.econbiz.de/10011242184

A Global Projection Model for Euro Area Large Economies

Jakab, Zoltan; Lukyantsau, Pavel; Wang, Shengzu - International Monetary Fund (IMF) - 2015

The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because...

Persistent link: https://www.econbiz.de/10011242224