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The Evolution of Current Account Deficits in the Euro Area Periphery and the Baltics; Many Paths to the Same Endpoint
Kang, Joong Shik; Shambaugh, Jay C. - International Monetary Fund (IMF) - 2013
Explanations of the large current account deficits for the euro area periphery and the Baltics in the run up to the crisis revolve around two main factors: deteriorating export performance or demand driven booms. We add that there were important movements in transfers and net income balances....
Persistent link: https://www.econbiz.de/10011242364
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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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International Capital Transactions - Should They Be Restricted?
Fieleke, Norman S. - International Monetary Fund (IMF) - 1993
Persistent link: https://www.econbiz.de/10005769369
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The Welfare Implications of Services Liberalization in a Developing Country; Evidence from Tunisia
Jouini, Nizar; Rebei, Nooman - International Monetary Fund (IMF) - 2013
We propose an integrated method based on a two-sector small open economy dynamic and stochastic general equilibrium model to estimate non-tariff barriers and quantify the impact of services liberalization. The major component of trade barriers is explicitly modeled through the introduction of...
Persistent link: https://www.econbiz.de/10011242426
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Value of WTO Trade Agreements in a New Keynesian Model
Ganelli, Giovanni; Tervala, Juha - International Monetary Fund (IMF) - 2015
We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the traditional trade policy point of view. We show that in a New Keynesian model, unilateral trade liberalization reduces welfare due to terms-of-trade deterioration, creating an...
Persistent link: https://www.econbiz.de/10011242404
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Greece; Third Review Under the Extended Arrangement Under the Extended Fund Facility—Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Gre...
International Monetary Fund (IMF); International … - 2013
The short-term objectives are being met, but medium-term targets and sustainability have to be worked on. The impressive fiscal adjustment evident since the crisis erupted is continuing. The Executive Directors commend the Greek government’s determination to focus on overdue spending...
Persistent link: https://www.econbiz.de/10011244360
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Greece; Ex Post Evaluation of Exceptional Access Under the 2010 Stand-By Arrangement
International Monetary Fund (IMF); International … - 2013
Greece adopted an ambitious program to eliminate fiscal and current account imbalances, regain competitiveness …
Persistent link: https://www.econbiz.de/10011244721
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Greece: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Staf...
International Monetary Fund (IMF); International … - 2014
Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access. Greece has gone from having the weakest …
Persistent link: https://www.econbiz.de/10011245252
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Greece; Selected Issues
International Monetary Fund (IMF); International … - 2013
Rigidities in Greece’s product and labor markets leading to economic imbalances and the significance of reforms to these markets are played out in the first paper. The second paper describes the problems, progress to date, and agenda for work in Greece’s revenue administration and...
Persistent link: https://www.econbiz.de/10011245714
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Greece; First and Second Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for Waiver of Applicability, Modification of Performance Criteria, and Rep...
International Monetary Fund (IMF); International … - 2013
Greece’s deep recession has continued unabated, with the economy struggling to gain traction against domestic political instability and weak external conditions. Stronger internal devaluation is now under way, reflecting the interaction of labor market liberalization with the already weak...
Persistent link: https://www.econbiz.de/10011242799