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Shock from Graying; Is the Demographic Shift Weakening Monetary Policy Effectiveness
Imam, Patrick A. - International Monetary Fund (IMF) - 2013
impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After … proving the existence of a panel co-integration relationship between ageing and a weakening of monetary policy, the study uses …
Persistent link: https://www.econbiz.de/10011242214
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Country Insurance Using Financial Instruments
Ricci, Luca Antonio; Chamon, Marcos; Zhang, Yuanyan Sophia - International Monetary Fund (IMF) - 2011
instruments can explain much of the in-sample variation in borrowing spreads, this fails to materialize in hedging strategies that … and innovation costs could justify the limited interest for this type of hedging in practice …
Persistent link: https://www.econbiz.de/10009203536
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Equity Prices, Credit Default Swaps, and Bond Spreads in Emerging Markets
Chan-Lau, Jorge A.; Kim, Yoon Sook - International Monetary Fund (IMF) - 2004
This paper examines equilibrium price relationships and price discovery between credit defaul swap (CDS), bond, and equity markets for emerging market sovereign issuers. Findings suggest that CDS and bond spreads converge despite various pressures that arise in the market. In most countries,...
Persistent link: https://www.econbiz.de/10005605007
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Global and Regional Spillovers to GCC Equity Markets
Sedik, Tahsin Saadi; Williams, Oral - International Monetary Fund (IMF) - 2011
This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spillovers from regional equity markets were also important but the magnitude of the...
Persistent link: https://www.econbiz.de/10009151201
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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
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Tonga; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper and Statistical Appendix reviews the past conduct of monetary policy of Tonga. The paper considers the problems in the current system and discusses the policy options available to the authorities. It reviews Tonga’s exchange rate policy and explores its...
Persistent link: https://www.econbiz.de/10005825242
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A Framework for Developing Secondary Markets for Government Securities
Ãrvai, Zsófia; Heenan, Geoffrey - International Monetary Fund (IMF) - 2008
This paper consolidates previous work on the development of secondary markets for government securities, and focuses on the sequencing of measures necessary for their development. Six main lessons are identified: (i) a commitment to achieving and maintaining a stable macroeconomic environment,...
Persistent link: https://www.econbiz.de/10005826193
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Market Predictability of ECB Monetary Policy Decisions; A Comparative Examination
Ross, Kevin - International Monetary Fund (IMF) - 2002
Many surveys of the ECB's monetary framework emphasize the inability of financial markets to correctly predict monetary policy decisions. At the same time, these surveys of financial market participants have given relatively high marks to the United States Federal Reserve and the Bank of England...
Persistent link: https://www.econbiz.de/10005826296
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Chile; Institutions and Policies Underpinning Stability and Growth
Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351