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China’s Demography and its Implications
Lee, Il Houng; Qingjun, Xu; Syed, Murtaza H. - International Monetary Fund (IMF) - 2013
In coming decades, China will undergo a notable demographic transformation, with its old-age dependency ratio doubling … literature. Going further, we simulate global savings behavior based on our framework and find that China’s demographics should … and future policy choices. Other implications arising from China’s demography, including the growth model, the pension …
Persistent link: https://www.econbiz.de/10011142029
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(Why) Should Current Account Balances Be Reduced?
Milesi-Ferretti, Gian-Maria; Blanchard, Olivier J. - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10010790484
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Global Imbalances and External Adjustment after the Crisis
Lane, Philip R.; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2014
This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both “flow†and “stock†imbalances), with a special focus on the shifting position of Latin America in the global distribution. Second, it examines the cross-country variation in...
Persistent link: https://www.econbiz.de/10011123870
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Accounting for Reserves
Bayoumi, Tamim; Saborowski, Christian - International Monetary Fund (IMF) - 2012
Views on the effectiveness of sterilized reserve intervention vary. Sterilized intervention is generally seen as ineffective in advanced countries while persistent intervention by some emerging markets is often cited as contributing to undervalued exchange rates and current account surpluses....
Persistent link: https://www.econbiz.de/10011123883
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Friedman Redux: External Adjustment and Exchange Rate Flexibility
Ghosh, Atish R.; Qureshi, Mahvash Saeed; Tsangarides, … - International Monetary Fund (IMF) - 2014
Milton Friedman argued that flexible exchange rates would facilitate external adjustment. Recent studies find surprisingly little robust evidence that they do. We argue that this is because they use composite (or aggregate) exchange rate regime classifications, which often mask very...
Persistent link: https://www.econbiz.de/10011142058
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The External Balance Assessment (EBA) Methodology
Phillips, Steven; Catão, Luis; Ricci, Luca Antonio; … - International Monetary Fund (IMF) - 2013
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...
Persistent link: https://www.econbiz.de/10011142197
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Financial Crises in DSGE Models: A Prototype Model
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2014
This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy....
Persistent link: https://www.econbiz.de/10010790398
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Financial Crises in DSGE Models: Selected Applications of MAPMOD
Benes, Jaromir; Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2014
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the...
Persistent link: https://www.econbiz.de/10010790408
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A Banking Union for the Euro Area
Goyal, Rishi; Brooks, Petya Koeva; Pradhan, Mahmood; … - International Monetary Fund (IMF) - 2013
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses...
Persistent link: https://www.econbiz.de/10010959483
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India; Selected Issues
International Monetary Fund (IMF); International … - 2009
Despite the external origin of the financial crisis, the potential impact on India’s corporate sector could be large, as India has become increasingly integrated with the global economy in the past decade. The Selected Issues paper discusses India’s economic development and...
Persistent link: https://www.econbiz.de/10011244625