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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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IMF Multi-Country Report: Housing Recoveries: Cluster Report on Denmark, Ireland, Kingdom of the Netherlands—the Netherlands, and Spain
International Monetary Fund (IMF); International … - 2015
Ireland and Spain, reflecting in part a higher amplitude of residential construction. However, the boom- bust cycle has … years. In particular, it examines the experiences of Denmark, Ireland, the Netherlands, and Spain—four countries in which …
Persistent link: https://www.econbiz.de/10011244480
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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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Crisis Management and Resolution; Early Lessons from the Financial Crisis
Pazarbasioglu, Ceyla; Laeven, Luc; Nedelescu, Oana M.; … - 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/10011245897
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Managing Financial Crises; The Experience in East Asia
Lane, Timothy D.; Hamann, A. Javier; Schulze-Gattas, … - International Monetary Fund (IMF) - 2000
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
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Short-Term Wholesale Funding and Systemic Risk; A Global Covar Approach
International Monetary Fund (IMF); International … - 2012
In this paper we identify some of the main factors behind systemic risk in a set of international large-scale complex banks using the novel CoVaR approach. We find that short-term wholesale funding is a key determinant in triggering systemic risk episodes. In contrast, we find no evidence that a...
Persistent link: https://www.econbiz.de/10009654153
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Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?
Allard, Julien; Blavy, Rodolphe - International Monetary Fund (IMF) - 2011
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental...
Persistent link: https://www.econbiz.de/10009293778
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Macroprudential Policy; What Instruments and How to Use them? Lessons From Country Experiences
International Monetary Fund (IMF); International … - 2011
This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...
Persistent link: https://www.econbiz.de/10009369434