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Imf Drawing Programs; Participation Determinants and Forecasting
Cerutti, Eugenio - International Monetary Fund (IMF) - 2007
This paper studies the factors that have influenced countries' participation in IMF drawing programs. IMF drawing …-track, it provides a closer link to the factors that have influenced the evolution of IMF credit outstanding. The analysis uses … determinants of countries' participation in IMF drawing programs. The importance of the global factor is not uniform during the …
Persistent link: https://www.econbiz.de/10005248203
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From Crisis to Recovery in Korea; Strategy, Achievements, and Lessons
Kang, Kenneth; Liang, Hong; Ma, Henry; Richards, Anthony J. - International Monetary Fund (IMF) - 2001
This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...
Persistent link: https://www.econbiz.de/10005825786
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From Crisis to IMF-Supported Program; Does democracy impede the speed required by financial markets?
Mody, Ashoka; Saravia, Diego - International Monetary Fund (IMF) - 2008
agreement on an IMF-supported adjustment program. This span appears to have decreased over time. More precisely, we find that …
Persistent link: https://www.econbiz.de/10005605163
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The Impact of the Global Crisison South-Eastern Europe
Spadafora, Francesco; Cocozza, Emidio; Colabella, Andrea - International Monetary Fund (IMF) - 2011
This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible...
Persistent link: https://www.econbiz.de/10009401192
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Fiscal Deficits and Current Account Deficits
Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2009
The effectiveness of recent fiscal stimulus packages significantly depends on the assumption of non-Ricardian savings behavior. We show that, under the same assumption, fiscal deficits can have worrisome implications if they turn out to be permanent. First, if they occur in large countries they...
Persistent link: https://www.econbiz.de/10008460597
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The Spending and Absorption of Aid in PRGF Supported Programs
Martijn, Jan Kees; Berndt, Markus; Shonchoy, Abu; … - International Monetary Fund (IMF) - 2008
This paper studies the spending and absorption of aid in PRGF-supported programs, verifies whether the use aid is programmed to be smoothed over time, and analyzes how considerations about macroeconomic stability influence the programmed use of aid. It finds that PRGF-supported programs allow...
Persistent link: https://www.econbiz.de/10005826106
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Tax Reform and Debt Sustainability in Germany; An Assessment Using the Global Fiscal Model
Botman, Dennis P. J.; Danninger, Stephan - International Monetary Fund (IMF) - 2007
In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global …
Persistent link: https://www.econbiz.de/10005826636
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A Rule-Based Medium-Term Fiscal Policy Framework for Tanzania
Kim, Daehaeng; Saito, Mika - International Monetary Fund (IMF) - 2009
A zero net domestic financing (NDF) target has served Tanzania well in recent years, contributing to prudent expenditure policy, improved fiscal sustainability, and macroeconomic stability. Moving to a more flexible fiscal policy, however, may serve Tanzania better. The "diamond rule" proposed...
Persistent link: https://www.econbiz.de/10008540930
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Fiscal Policy and the Current Account
International Monetary Fund (IMF); International … - 2010
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal...
Persistent link: https://www.econbiz.de/10008533223
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A Party without a Hangover?on the Effects of U.S. Government Deficits
Laxton, Douglas; Kumhof, Michael - International Monetary Fund (IMF) - 2007
This paper develops a 2-country New Keynesian overlapping generations model suitable for the joint evaluation of monetary and fiscal policies. We show that a permanent increase in U.S. government deficits raises the world real interest rate and significantly increases U.S. current account...
Persistent link: https://www.econbiz.de/10005599426