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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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Survey of Reserve Managers : Lessons from the Crisis
Morahan, Aideen - 2013
This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted to the crisis to date. The survey also aims to understand how reserve managers...
Persistent link: https://www.econbiz.de/10013080847
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The Nonlinear Relationship between Public Debt and Sovereign Credit Ratings
Hadzi-Vaskov, Metodij - 2019
This study investigates the nonlinear relationship between public debt and sovereign credit ratings, using a wide sample of over one hundred advanced, emerging, and developing economies. It finds that: i) higher public debt lowers the probability of being placed in a higher rating category; ii)...
Persistent link: https://www.econbiz.de/10012864106
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The Impact of Terrorism on Financial Markets
Johnston, R. Barry - 2021
The terrorist attacks that have occurred in the past few years around the world have raised international awareness of …
Persistent link: https://www.econbiz.de/10013318063
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The Political Economy of Fiscal Transparency and Independent Fiscal Councils
Beetsma, Roel M. W. J. - 2018
IFC as the debt bias would shrink. However, when other considerations eclipse competence and give the incumbent a strong … electoral advantage or disadvantage, setting up an IFC may be counterproductive as the debt bias would increase. If the … bias if voters care sufficiently about policymakers' competence; (ii) not all political environments are conducive to the …
Persistent link: https://www.econbiz.de/10012924261
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Sub-Saharan Africa's Risk Perception Premium : In the Search of Missing Factors
Gbohoui, William; Ouedraogo, Rasmané; Some, Y. Modeste - 2023
peers from other regions. Secondly, we assess whether there is any bias against SSA countries in the secondary market that …
Persistent link: https://www.econbiz.de/10014353726
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Granger Predictability of Oil Prices after the Great Recession
Benk, Szilard - 2019
Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...
Persistent link: https://www.econbiz.de/10012858386
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Repeated Use of IMF-Supported Programs : Determinants and Forecasting
Iseringhausen, Martin - 2019
This paper studies the determinants of repeated use of Fund-supported programs in a large sample covering virtually all General Resources Account (GRA) arrangements that were approved between 1952 and 2012. Generally, the revolving nature of the IMF's resources calls for the temporary sup-port...
Persistent link: https://www.econbiz.de/10012858950
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The Level Reer Model in the External Balance Assessment (EBA) Methodology
Mano, Rui C. - 2019
This paper offers an empirical model of the drivers of the level of the Real Effective Exchange Rate (REER) that is now part of the IMF's methodology for the assessment of external positions, including exchange rates. It constructs a measure of the level of the REER and it offers a panel...
Persistent link: https://www.econbiz.de/10012860991