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Taxing Financial Transactions; An Assessment of Administrative Feasibility

Brondolo, John - International Monetary Fund (IMF) - 2011

This paper considers how a tax on financial transactions could be applied to three broad and partially overlapping categories of financial instruments: (1) exchange-traded instruments; (2) over-the-counter instruments; and, (3) foreign exchange instruments. For each category, the paper examines...

Persistent link: https://www.econbiz.de/10009203525

Derivative Market Competition; OTC Versus Organized Derivative Exchanges

Nystedt, Jens - International Monetary Fund (IMF) - 2004

exchange (ODE) markets. This paper models some important aspects of how an ODE market interrelates with the OTC markets. It … analyzes various ways in which an ODE market can respond to competition from the OTC markets and considers whether ODE markets … markets. This implies that a potentially important service ODE markets can provide OTC market participants is to extend …

Persistent link: https://www.econbiz.de/10005599490

Rules, Discretion, and Macro-Prudential Policy

Agur, Itai; Sharma, Sunil - International Monetary Fund (IMF) - 2013

The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be...

Persistent link: https://www.econbiz.de/10010790438

Dynamic Depositor Discipline in U.S. Banks

McDill, Kathleen; Maechler, Andrea M. - International Monetary Fund (IMF) - 2003

This paper investigates the presence of depositor discipline in the U.S. banking sector. We test whether depositors penalize (discipline) banks for poor performance by withdrawing their uninsured deposits. While focusing on the movements in uninsured deposits, we also account for the possibility...

Persistent link: https://www.econbiz.de/10005248320

Asset Market Participation, Monetary Policy Rules, and the Great Inflation

Bilbiie, Florin; Straub, Roland - International Monetary Fund (IMF) - 2006

This paper argues that limited asset market participation is crucial in explaining U.S. macroeconomic performance and monetary policy before the 1980s, and their changes thereafter. We develop an otherwise standard sticky-price dynamic stochastic general equilibrium model, which implies that at...

Persistent link: https://www.econbiz.de/10005263711

Structural Reforms in the Euro Area; Economic Impact and Role of Synchronization Across Markets and Countries

Everaert, Luc; Schule, Werner - International Monetary Fund (IMF) - 2006

markets are quantified for both a large and a small euro area economy. When markups in these markets are reduced, there are … transitional costs as they induce a temporary decline in consumption, but raising competition in goods markets can mitigate some of … these costs. Thus, coordinating the timing of reforms across markets is beneficial, and the more so the more open the …

Persistent link: https://www.econbiz.de/10005264078

First; A Market-Based Approach to Evaluate Financial System Risk and Stability

Avesani, Renzo G. - International Monetary Fund (IMF) - 2005

, complex financial institutions (LCFIs) operating in the most advanced financial markets, MRI and CRI have also been applied to …

Persistent link: https://www.econbiz.de/10005264101

An Incentive Approach to Identifying Financial System Vulnerabilities

Chai, Jingqing; Johnston, R. B. - International Monetary Fund (IMF) - 2000

This paper underscores the importance of the assessment of incentives of the main agents in a financial system as a key element in the analysis of financial system vulnerability and the surveillance over the financial system. We outline a diagnostic approach for the assessment of incentives....

Persistent link: https://www.econbiz.de/10005264193

Assessing Bank Competition within the East African Community

Sanya, Sarah; Gaertner, Matthew - International Monetary Fund (IMF) - 2012

This paper is an empirical analysis of competitiveness in the banking system of four out of the five East African Community (EAC) countries2. The results show that the degree of competition is low due to a combination of structural and socio-economic factors. By way of preview, the analysis...

Persistent link: https://www.econbiz.de/10009650623

Depositor Behavior and Market Discipline in Colombia

Steiner, Roberto; Barajas, Adolfo - International Monetary Fund (IMF) - 2000

This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations...

Persistent link: https://www.econbiz.de/10005825773