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Procyclicality and the Search for Early Warning Indicators
Shin, Hyun Song - International Monetary Fund (IMF) - 2013
market prices, those based on normalized measures of total credit and those based on liabilities of financial intermediaries … credit and liabilities convey similar information and perform better as early warning indicators, but liabilities are more …
Persistent link: https://www.econbiz.de/10011142177
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Economic Policy in a Highly Dollarized Economy; The Case of Cambodia
International Monetary Fund (IMF); International … - 2003
This study examines the challenges and issues facing policymakers in highly dollarized economies. Focusing on Cambodia, which achieved almost complete dollarization during 1991-95, the authors review recent developments in the literature on dollarization and examine the costs and benefits of...
Persistent link: https://www.econbiz.de/10005590965
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The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe
International Monetary Fund (IMF); International … - 1994
The paper discusses the interrelationships between payments system reform and monetary policy implementation in selected countries in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and...
Persistent link: https://www.econbiz.de/10005826638
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Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges
Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010
This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...
Persistent link: https://www.econbiz.de/10008519491
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies; Possible Impact of a New Basel Accord
Mulder, Christian B.; Monfort, Brieuc - International Monetary Fund (IMF) - 2000
commercial credit rating agencies. Estimates for 20 emerging market economies show that sovereign ratings react procyclically to … run up to the crises. Simulations suggest modest efficiency gains of using sovereign credit ratings for capital …
Persistent link: https://www.econbiz.de/10005264127
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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
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Rapid Credit Growth; Boon or Boom-Bust?
Elekdag, Selim; Wu, Yiqun - International Monetary Fund (IMF) - 2011
Episodes of rapid credit growth, especially credit booms, tend to end abruptly, typically in the form of financial … crises. This paper presents the findings of a comprehensive event study focusing on 99 credit booms. Loose monetary policy … stances seem to have contributed to the build-up of credit booms across both advanced and emerging economies. In particular …
Persistent link: https://www.econbiz.de/10009369437
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The Impact of the Great Recessionon Emerging Markets
Salman, Ferhan; Chivakul, Mali; Llaudes, Ricardo - International Monetary Fund (IMF) - 2010
, sovereign spreads, and credit growth. This paper also shows that during this crisis, pre-crisis reserve holdings helped to …
Persistent link: https://www.econbiz.de/10008727798
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Thailand; Selected Issues
International Monetary Fund (IMF); International … - 2006
countries’ credit spreads. …
Persistent link: https://www.econbiz.de/10005825163