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Exchange Rate Risk Measurement and Management; Issues and Approaches for Firms

Papaioannou, Michael G. - International Monetary Fund (IMF) - 2006

passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and … presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the … use of financial derivatives instruments, and hedging practices by U.S. firms. …

Persistent link: https://www.econbiz.de/10005825991

Commodities and the Market Price of Risk

Roache, Shaun K. - International Monetary Fund (IMF) - 2008

Commodities are back following a stellar run of price performance, attracting financial investor attention. What are the fundamental reasons to hold commodities? One reason is the exposure offered to underlying risk factors. In this paper, I assess the macro risk exposure offered by commodity...

Persistent link: https://www.econbiz.de/10005826345

The Credit Risk Transfer Market and Stability Implications for U.K. Financial Institutions

Ong, Li L.; Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2006

The increasing ability to trade credit risk in financial markets has facilitated its dispersion across the financial and other sectors. However, specific risks attached to credit risk transfer (CRT) instruments in a market with still-limited liquidity means that its rapid expansion may actually...

Persistent link: https://www.econbiz.de/10005826449

Managing the Interest Rate Risk of Indian Banks' Government Securities Holdings

Sy, Amadou N. R. - International Monetary Fund (IMF) - 2005

The large holdings of government securities by banks in India draw attention to their risk as interest rates are at historical low levels. This paper measures such a risk using duration and value-at-risk methods and assesses its current management by banks. The main finding is that some public...

Persistent link: https://www.econbiz.de/10005826476

Macro-Hedging for Commodity Exporters

Borensztein, Eduardo; Sandri, Damiano; Jeanne, Olivier - International Monetary Fund (IMF) - 2009

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for … commodity-exporting countries. The introduction of hedging instruments such as futures and options enhances domestic welfare …

Persistent link: https://www.econbiz.de/10008540918

The Systemic Regulation of Credit Rating Agencies and Rated Markets

Sy, Amadou N. R. - International Monetary Fund (IMF) - 2009

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is...

Persistent link: https://www.econbiz.de/10008528614

The Derivatives Market in South Africa; Lessons for Sub-Saharan African Countries

Adelegan, Olatundun Janet - International Monetary Fund (IMF) - 2009

This paper examines the role of the derivatives market in South Africa and provides policy options for promoting the development of derivatives markets in sub-Saharan Africa. South Africa's derivatives market has grown rapidly in recent years, supporting capital inflows and helping market...

Persistent link: https://www.econbiz.de/10008528705

Currency Hedging for International Portfolios

Schmittmann, Jochen M. - International Monetary Fund (IMF) - 2010

This paper examines the benefits from hedging the currency exposure of international investments in single- and multi … 2009, hedging of currency risk substantially reduced the volatility of foreign investments at a quarterly investment … hedging for risk reduction purposes remained strong.In addition to its impact on risk, hedging affected returns in …

Persistent link: https://www.econbiz.de/10008560448

Financial Soundness Indicators; Analytical Aspects and Country Practices

International Monetary Fund (IMF); International … - 2002

The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...

Persistent link: https://www.econbiz.de/10005590915

Economic Growth and Integration in Central America

Schipke, Alfred; Desruelle, Dominique - International Monetary Fund (IMF) - 2007

How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central Americaâ€™s real, fiscal, monetary, and financial...

Persistent link: https://www.econbiz.de/10005590924