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Igan, Deniz; Loungani, Prakash - International Monetary Fund (IMF) - 2012

Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....

Persistent link: https://www.econbiz.de/10010790415

How to Deal with Real Estate Booms; Lessons From Country Experiences

Rabanal, Pau; Crowe, Christopher W.; Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2011

The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as...

Persistent link: https://www.econbiz.de/10009019603

Policies for Macrofinancial Stability; Options to Deal with Real Estate Booms

Dell'Ariccia, Giovanni; Rabanal, Pau; Crowe, Christopher W. - International Monetary Fund (IMF) - 2011

DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...

Persistent link: https://www.econbiz.de/10011245885

Securitization: Lessons Learned and the Road Ahead

Basurto, Miguel A. Segoviano; Jones, Bradley; Lindner, Peter - International Monetary Fund (IMF) - 2013

This paper examines the financial stability implications arising from securitization markets, with one eye on the past … industry developments in the years before the crisis. Emphasis is placed on the various ways in which securitization markets … securitization markets are then discussed, including a treatment of various regulatory initiatives, the operational infrastructure of …

Persistent link: https://www.econbiz.de/10011142086

Addressing Information Gaps

Mulder, Christian B.; Imus, Phil De; Psalida, L. Effie; … - International Monetary Fund (IMF) - 2009

Persistent link: https://www.econbiz.de/10011142216

Bank Funding in Central, Eastern and South Eastern Europe Post Lehman; A â€œNew Normalâ€?

Impavido, Gregorio; Rudolph, Heinz; Ruggerone, Luigi - International Monetary Fund (IMF) - 2013

CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consistently with uncertainties surrounding the future of the banking union project. In the...

Persistent link: https://www.econbiz.de/10011242175

What Caused the Global Financial Crisis; Evidenceon the Drivers of Financial Imbalances 1999: 2007

Merrouche, Ouarda; Nier, Erlend - International Monetary Fund (IMF) - 2010

This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii)...

Persistent link: https://www.econbiz.de/10008727817

The Crisis; Basic Mechanisms and Appropriate Policies

Blanchard, Olivier J. - International Monetary Fund (IMF) - 2009

The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in...

Persistent link: https://www.econbiz.de/10004999966

Republic of Kazakhstan; Financial Sector Assessment Program Updateâ€”Technical Noteâ€”Investment Opportunities for Pension Funds

International Monetary Fund (IMF); International … - 2004

This technical note examines investment opportunities for pension funds in Kazakhstan. It puts forward policy alternatives that could lead to improved management of pension fund assets in Kazakhstan. The note emphasizes prudence in the management of pension assets, given the social and fiscal...

Persistent link: https://www.econbiz.de/10005590980

Bond Markets As Conduits for Capital Flows; How Does Asia Compare?

Luengnaruemitchai, Pipat; Eichengreen, Barry J. - International Monetary Fund (IMF) - 2006

We use data on the extent to which residents of one country hold the bonds of issuers resident in another as a measure of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base case in which the purchaser and issuer of the bonds reside...

Persistent link: https://www.econbiz.de/10005769016