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Official Financial Flows, Capital Mobility, and Global Imbalances

Bayoumi, Tamim; Gagnon, Joseph E.; Saborowski, Christian - International Monetary Fund (IMF) - 2014

intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances …

Persistent link: https://www.econbiz.de/10010959470

Republic of Belarus: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Belarus

International Monetary Fund (IMF); International … - 2014

KEY ISSUES Context: Attempts to boost activity with policy stimulus, in lieu of much-needed structural reform, have failed to raise growth and contributed to large external imbalances. Adverse developments in the region further cloud the outlook. High financing needs and low buffers leave...

Persistent link: https://www.econbiz.de/10011244333

South Africa: Financial Sector Assessment Program-Financial Safety Net, Bank Resolution, and Crisis Management Framework-Technical Note

International Monetary Fund (IMF); International … - 2015

This Technical Note discusses recommendations made during the Financial Sector Assessment Program (FSAP) for South Africa in the areas of contingency planning, crisis management, and bank resolution. The proposed scope of the new resolution regime and of the South African Reserve Bankâ€™s...

Persistent link: https://www.econbiz.de/10011245795

From Bail-out to Bail-in; Mandatory Debt Restructuring of Systemic Financial Institutions

Rutledge, Virginia Skidmore; Moore, Michael; Dobler, Marc; … - International Monetary Fund (IMF) - 2012

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/10011245879

The Yen-Dollar Rate; Have Interventions Mattered?

Ramaswamy, Ramana; Samiei, Hossein - International Monetary Fund (IMF) - 2000

Using daily data for 1995–99, this paper estimates a simple forward looking model of the exchange rate to show that foreign exchange interventions have, on the whole, had small but persistent effects on the yen-dollar rate. Contrary to conventional wisdom, sterilized interventions have...

Persistent link: https://www.econbiz.de/10005263985

Balance-Sheet Shocks and Recapitalizations

Sandri, Damiano; Valencia, Fabian - International Monetary Fund (IMF) - 2012

We develop a dynamic stochastic general equilibrium model with financial frictions on both financial intermediaries and goods-producing firms. In this context, due to high leverage of financial intermediaries, balance sheet disruptions in the financial sector are particularly detrimental for...

Persistent link: https://www.econbiz.de/10009654148

Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations

Georgiou, Andréas - International Monetary Fund (IMF) - 2009

The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often...

Persistent link: https://www.econbiz.de/10008460595

Central Bank Foreign Exchange Market Intervention and Option Contract Specification; The Case of Colombia

Mandeng, Ousmène - International Monetary Fund (IMF) - 2003

intervention. Option contract specifications determine the impact of options on the underlying asset or currency, and hence their …-based intervention. The paper reviews the experience of the systematic option-based foreign exchange market intervention of the Central …

Persistent link: https://www.econbiz.de/10005825716

From Fixed to Float; Operational Aspects of Moving towards Exchange Rate Flexibility

Fernandez, Gilda; Karacadag, Cem; Duttagupta, Rupa - International Monetary Fund (IMF) - 2004

market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the …

Persistent link: https://www.econbiz.de/10005826173

Official Intervention in the Foreign Exchange Market; Elements of Best Practice

Kriljenko, Jorge Iván Canales; Karacadag, Cem; … - International Monetary Fund (IMF) - 2003

This paper offers guidance on the operational aspects of official intervention in the foreign exchange market … counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and … disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention …

Persistent link: https://www.econbiz.de/10005826478