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How to Improve Inflation Forecasting in Canada
Matheson, Troy - 2019
overall inflation forecast errors. Perhaps more importantly, relatively small core inflation forecast errors appear to mask …Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real …-time inflation forecasts of the Bank of Canada with the aim of identifying potential areas for improvement. Not surprisingly, the …
Persistent link: https://www.econbiz.de/10012860993
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How We Missed the Inflation Surge : An Anatomy of Post-2020 Inflation Forecast Errors
Koch, Christoffer; Noureldin, Diaa - 2023
This paper analyzes the inflation forecast errors over the period 2021Q1-2022Q3 using forecasts of core and headline … information. Focusing on core inflation forecast errors in 2021, four factors provide a potential ex post explanation: a stronger … different governments in 2020 correlates positively with core inflation forecast errors in advanced economies. This result hints …
Persistent link: https://www.econbiz.de/10014354481
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The External Balance Assessment (EBA) Methodology
Phillips, Steven - 2014
The External Balance Assessment (EBA) methodology has been developed by the IMF's Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...
Persistent link: https://www.econbiz.de/10013059857
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External Liabilities and Crises
Catão, Luis - 2013
We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition. Using a variety of statistical tools and comprehensive data spanning 1970-2011, we find that the ratio of net foreign liabilities (NFL) to GDP is a significant crisis predictor, and...
Persistent link: https://www.econbiz.de/10013080853
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Financial Spillovers to Chile
Podpiera, Jiri - 2012
This paper quantifies financial spillovers from global risk factors to banks' funding costs in Chile. It decomposes Chilean banks' bond and interbank spreads into domestic and external factors. The results suggest moderate spillovers. On average, global spillovers pushed up bank bond and...
Persistent link: https://www.econbiz.de/10013098274
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Sovereign Risk and Asset and Liability Management-Conceptual Issues
Das, Udaibir - 2012
Country practices towards managing financial risks on a sovereign balance sheet continue to evolve. Each crisis period, and its legacy on sovereign balance sheets, reaffirms the need for strengthening financial risk management. This paper discusses some salient features embedded in in the...
Persistent link: https://www.econbiz.de/10013098567
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Financial Stability in an Evolving Regulatory and Supervisory Landscape
Xiao, Yingbin - 2013
This paper runs qualitative and quantitative analyses of the financial soundness of Danish banks. Helped by a series of Denmark's financial policy initiatives, banks have made progress in improving financial stability. However, vulnerabilities remain. To mitigate risks, banks should continue to...
Persistent link: https://www.econbiz.de/10013085614
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Sovereign Asset and Liability Management in Emerging Market Countries : The Case of Uruguay
Amante, Andre - 2020
This paper provides an overview of the strategic and operational issues as well as institutional challenges, related to the implementation of the Sovereign Asset and Liability Management (SALM) approach. Application of an SALM framework allows the authorities to identify and monitor sovereign...
Persistent link: https://www.econbiz.de/10012843498
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Asian Flu or Wall Street Virus? Price and Volatility Spillovers of the Tech and Non-Tech Sectors in the United States and Asia
Chan-Lau, Jorge A. - 2006
This paper, using T-GARCH models, finds that the United States has been the major source of price and volatility spillovers to stock markets in the Asian region during three different periods in the last decade: the pre-Long Term Capital Management crisis period the tech bubble period, and the...
Persistent link: https://www.econbiz.de/10012735587
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Bond Restructuring and Moral Hazard : Are Collective Action Clauses Costly?
Becker, Torbjorn - 2005
Many official groups (such as the G-7, G-10 and G-22 groups of countries) have recently endorsed the wider use by emerging market borrowers of quot;collective action clausesquot;, (CACs) in bond contracts. These clauses allow for a qualified majority of bondholders to restructure repayment terms...
Persistent link: https://www.econbiz.de/10012737660