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Woo, Jaejoon; Kumar, Manmohan S. - International Monetary Fund (IMF) - 2010

This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality...

Persistent link: https://www.econbiz.de/10008646412

The Real Effects of Financial Sector Risk

Maechler, Andrea M.; Tieman, Alexander F. - International Monetary Fund (IMF) - 2009

This paper estimates the magnitude of key effects on the real economy from financial sector stress. We focus on the short-run feedback effect from market-based indicators of financial sector risk to the real economy through the credit channel, and estimate this effect on an economy-wide (macro)...

Persistent link: https://www.econbiz.de/10008528673

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 IMFâ€™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

Transparency and International Investor Behavior

Wei, Shang-Jin; Gelos, Gaston - International Monetary Fund (IMF) - 2002

Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government and corporate transparency, focusing on the availability and quality of...

Persistent link: https://www.econbiz.de/10005826295

Availability of Financial Soundness Indicators

Slack, Graham L. - International Monetary Fund (IMF) - 2003

Because the wave of financial crises in recent years has spurred analysts' and policymakers' interest in monitoring the vulnerabilities of financial systems, the need for supporting data has increased. This paper presents survey results on the collection, compilation, and dissemination of data...

Persistent link: https://www.econbiz.de/10005826399

Too Much of a Good Thing? Credit Booms in Transition Economies; The Cases of Bulgaria, Romania, and Ukraine

Duenwald, Christoph; Gueorguiev, Nikolay; Schaechter, Andrea - International Monetary Fund (IMF) - 2005

Rapid credit growth in Bulgaria, Romania, and Ukraine has been driven by successful macroeconomic stabilization, robust growth, and capital inflows. While financial deepening is both expected and welcome, the recent expansions appear to have been excessive, as evidenced by widening current...

Persistent link: https://www.econbiz.de/10005826445

Monitoring Systemic Risk Based on Dynamic Thresholds

Lund-Jensen, Kasper - International Monetary Fund (IMF) - 2012

Successful implementation of macroprudential policy is contingent on the ability to identify and estimate systemic risk in real time. In this paper, systemic risk is defined as the conditional probability of a systemic banking crisis and this conditional probability is modeled in a fixed effect...

Persistent link: https://www.econbiz.de/10011242269

Assessing Competitiveness Using Industry Unit Labor Costs; An Application to Slovakia

International Monetary Fund (IMF); International … - 2012

Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term … competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy … advice. Furthermore, aggregate statistical measures of competitiveness in terms of exchange rate misalignment can be biased …

Persistent link: https://www.econbiz.de/10011242314

The Trade Impact of China on EMU; Is It Even Across Members?

Ruiz, Esther Pérez; Mikkelsen, Uffe - International Monetary Fund (IMF) - 2012

euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area …

Persistent link: https://www.econbiz.de/10011242327

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