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Privatization and Public Enterprises
Hemming, Richard; Mansoor, Ali M. - International Monetary Fund (IMF) - 1998
Persistent link: https://www.econbiz.de/10005590918
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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
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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 2009–12 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
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Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?
Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2014
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...
Persistent link: https://www.econbiz.de/10011123846
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Fiscal Devaluation in a Monetary Union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - International Monetary Fund (IMF) - 2014
Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ‘Southern European countries’ has a strong...
Persistent link: https://www.econbiz.de/10011142031
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A Model-Based Analysis of Spillovers: The Case of Poland and the Euro Area
Andrle, Michal; Garcia-Saltos, Roberto; Ho, Giang - International Monetary Fund (IMF) - 2014
This paper studies economic and financial spillovers from the euro area to Poland in a two-country semi-structural model. The model incorporates various channels of macrofinancial linkages and cross-border spillovers. We parameterize the model through an extensive calibration process, and...
Persistent link: https://www.econbiz.de/10011142199
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Australia; Addressing Systemic Risk Through Higher Loss Absorbency—Technical Note
International Monetary Fund (IMF); International … - 2012
Australia’s four largest banks can be considered domestically systemic. They make up the lion’s share of the banking system, use similar business models, and are interconnected. The top four banks are relatively similar in terms of systemic importance, partly reflecting the...
Persistent link: https://www.econbiz.de/10011245198
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Trade Policy with Heterogeneous Traders; Do Quotas Get a Bum Rap?
Krishna, Kala; Tan, Ling Hui - International Monetary Fund (IMF) - 2007
This paper considers the effects of trade policy-tariffs and quotas-when importing is done by competitive traders who are identical ex ante but differ ex post. We show that the standard equivalence results no longer hold and the conventional ranking of tariffs and quotas is turned on its head:...
Persistent link: https://www.econbiz.de/10005248181
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Globalization Drives Strategic Product Switching
Badia, Marialuz Moreno; Slootmaekers, Veerle; Beveren, … - International Monetary Fund (IMF) - 2008
Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm dynamics, considering both firm closedown and product switching. We contribute to the literature in two important ways: (1) this is the first paper to study the determinants of...
Persistent link: https://www.econbiz.de/10005263707
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Precautionary Demand for Foreign Assets in Sudden Stop Economies; An Assessment of the New Merchantilism
Mendoza, Enrique G.; Durdu, Ceyhun Bora; Terrones, Marco - International Monetary Fund (IMF) - 2007
Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this...
Persistent link: https://www.econbiz.de/10005263736