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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies
Bhattacharya, Rudrani; Patnaik, Ila - International Monetary Fund (IMF) - 2013
consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …
Persistent link: https://www.econbiz.de/10010790416
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Foreign Investors Under Stress; Evidence from India
Patnaik, Ila; Shah, Ajay; Singh, Nirvikar - International Monetary Fund (IMF) - 2013
focused on tail events, which yields evidence on these questions. The results, for India, do not suggest that financial …
Persistent link: https://www.econbiz.de/10011242270
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Potential Growth in Emerging Asia
Anand, Rahul; Cheng, Kevin C.; Rehman, Sidra; Zhang, Longmei - International Monetary Fund (IMF) - 2014
estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and … Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in …;(iii) over the longer term, demographic factors will be much more supportive in India and some ASEAN economies than in China …
Persistent link: https://www.econbiz.de/10011142066
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Monetary Policy Transmission in Emerging Markets: Proverbial Concerns, Novel Evidence
Checo, Ariadne - 2024
Doubts persist about the effectiveness of monetary transmission in emerging markets, but the empirical evidence is scarce due to challenges in identifying monetary policy shocks. In this paper, we construct new monetary policy shocks using novel analysts' forecasts of policy rate decisions....
Persistent link: https://www.econbiz.de/10015058572
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Revisiting Covid Scarring in Emerging Markets
Jackson, Chris - 2023
The Covid-19 pandemic is expected to result in large and persistent losses in economic output, known as scarring. These losses were expected to be more severe in Emerging Markets than in Advanced Economies. This paper examines the impact of Covid on output in Emerging Markets so far and its...
Persistent link: https://www.econbiz.de/10015059169
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Monetary Policy Coordination and the Role of Central Banks
Mohan, Rakesh; Kapur, Muneesh - International Monetary Fund (IMF) - 2014
The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from...
Persistent link: https://www.econbiz.de/10010790334
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Fiscal Rules and the Procyclicality of Fiscal Policy in the Developing World
Bova, Elva; Carcenac, Nathalie; Guerguil, Martine - International Monetary Fund (IMF) - 2014
This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either...
Persistent link: https://www.econbiz.de/10011123821
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Spillovers from United States Monetary Policy on Emerging Markets: Different This Time?
Chen, Jiaqian; Griffoli, Tommaso Mancini; Sahay, Ratna - International Monetary Fund (IMF) - 2014
The impact of monetary policy in large advanced countries on emerging market economies—dubbed spillovers—is hotly debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset prices and capital flows were significant,...
Persistent link: https://www.econbiz.de/10011123869
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Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies
Cesa-Bianchi, Ambrogio; Cespedes, Luis Felipe; Rebucci, … - International Monetary Fund (IMF) - 2015
In this paper we first compare house price cycles in advanced and emerging economies using a new quarterly house price data set covering the period 1990-2012. We find that house prices in emerging economies grow faster, are more volatile, less persistent and less synchronized across countries...
Persistent link: https://www.econbiz.de/10011163121
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Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?
Magud, Nicolas E.; Sosa, Sebastian - International Monetary Fund (IMF) - 2015
We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ratios generally remain close to or above historical averages. We show that...
Persistent link: https://www.econbiz.de/10011242322