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Northern Star; Canada's Path to Economic Prosperity
Klyuev, Vladimir; Mühleisen, Martin; Bayoumi, Tamim - International Monetary Fund (IMF) - 2007
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...
Persistent link: https://www.econbiz.de/10011245903
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A New Risk Indicator and Stress Testing tool; A Multifactor Nth-to-Default CDS Basket
Avesani, Renzo G.; Li, Jing; Pascual, Antonio Garcia - International Monetary Fund (IMF) - 2006
financial institutions (LCFIs). To estimate the multifactor latent structure, we link the market risk (the covariance of the … LCFIs' equity) to credit risk (the default probability of the CDS basket) in a coherent manner. In addition, to analyze the … relevant sources of risk. We anticipate that this approach could be of value to financial supervisors and risk managers alike. …
Persistent link: https://www.econbiz.de/10005826610
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Fat Tails and their (Un)Happy Endings; Correlation Bias and its Implications for Systemic Risk and Prudential Regulation
International Monetary Fund (IMF); International … - 2011
institutions more prone to fail and increasing systemic risk given interconnectedness in the financial system. The implications for … systemic risk and prudential regulation are assessed under the prism of Basel III, and potential solutions involving changes to …
Persistent link: https://www.econbiz.de/10009019569
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The Impact of Intersectoral Labor Reallocationon Economic Growth
Poirson, Hélène - International Monetary Fund (IMF) - 2000
This study seeks to explain economic growth differences in an aggregate production function framework, where labor reallocation from agriculture to modern sectors influences labor efficiency growth. The econometric analysis uses a panel of 65 countries over 1960-90. The results highlight: (a)...
Persistent link: https://www.econbiz.de/10005263726
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Inequality, Poverty, and Growth; Cross-Country Evidence
Iradian, Garbis - International Monetary Fund (IMF) - 2005
This paper examines the empirical relationship between inequality and growth, and analyzes the impacts of growth, inequality, and government spending on poverty reduction. A new panel dataset has been assembled on inequality and poverty that reduces measurement error and ensures comparability...
Persistent link: https://www.econbiz.de/10005263901
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Asset Pricing in the International Economy
Barrionuevo, José M. - International Monetary Fund (IMF) - 1993
This paper presents a statistical and economic interpretation of the low and often economically implausible risk … measure of consumption growth yields more accurate risk aversion estimates than a national measure. The results of asset … pricing tests suggest that risk aversion estimates derived from models constructed for the international measures are …
Persistent link: https://www.econbiz.de/10005826001
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Once Again, is Openness Good for Growth?
International Monetary Fund (IMF); International … - 2004
Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity...
Persistent link: https://www.econbiz.de/10005768790
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Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy; What Do the Data Say?
Woo, Jaejoon; Bova, Elva; Kinda, Tidiane; Zhang, … - International Monetary Fund (IMF) - 2013
The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal...
Persistent link: https://www.econbiz.de/10011242413
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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
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Mexico; Selected Issues
International Monetary Fund (IMF); International … - 2007
This Selected Issues paper analyzes external shocks and business cycle fluctuations in Mexico. The paper examines the relative importance of U.S. demand shocks—and other foreign disturbances—in explaining Mexican output fluctuations. It identifies the dynamic response of...
Persistent link: https://www.econbiz.de/10011245436