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Welfare Gains From Financial Liberalization
Ueda, Kenichi; Townsend, Robert M. - International Monetary Fund (IMF) - 2007
Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of permanent consumption though, consistent with the literature, the gain in the economic growth is...
Persistent link: https://www.econbiz.de/10005825717
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On the Estimation of Term Structure Models and An Application to the United States
International Monetary Fund (IMF); International … - 2010
This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term structure models, specifically the Nelson-Siegel Model and Affine Term- Structure Model, this paper estimates the terms structure of Treasury bond yields for the United States with...
Persistent link: https://www.econbiz.de/10008727797
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Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?
Surti, Jay - International Monetary Fund (IMF) - 2010
in risk allocation. Notwithstanding these advantages, however, limited market size and the greater pro-cyclicality of …
Persistent link: https://www.econbiz.de/10008777017
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Emerging Market Volatility: Lessons from The Taper Tantrum
Sahay, Ratna; Arora, Vivek B.; Arvanitis, Athanasios V; … - International Monetary Fund (IMF) - 2014
communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market … volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers … emerging markets effective protection against excessive volatility. …
Persistent link: https://www.econbiz.de/10010959484
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Monetary Policy and Bank Risk-Taking
Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2010
view that monetary policy easing induces greater risk-taking by banks but also shows that the relationship between real … interest rates and banking risk is more complex. Ultimately, it depends on how much skin in the game banks have. The central …
Persistent link: https://www.econbiz.de/10011123889
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Bank Leverage and Monetary Policy's Risk-Taking Channel; Evidence from the United States
Dell'Ariccia, Giovanni; Laeven, Luc; Suarez, Gustavo - International Monetary Fund (IMF) - 2013
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data …’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank …
Persistent link: https://www.econbiz.de/10011242177
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The State of Public Finances Cross-Country Fiscal Monitor: November 2009
International Monetary Fund (IMF); International … - 2009
Persistent link: https://www.econbiz.de/10010878426
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Mexico; Financial Sector Assessment Program Update: Technical Note: Financing of the Private Sector
International Monetary Fund (IMF); International … - 2007
This technical note on financing of the private sector for Mexico describes the evolution, composition, and determinants of financing to the nonfinancial private sector in Mexico between 2000 and 2005. Equity issuance has not played an important role in financing the private sector in Mexico...
Persistent link: https://www.econbiz.de/10011244184
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People's Republic of China; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The...
Persistent link: https://www.econbiz.de/10011244201
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India; 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India
International Monetary Fund (IMF); International … - 2009
India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are …
Persistent link: https://www.econbiz.de/10011244299