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Official Financial Flows, Capital Mobility, and Global Imbalances

Bayoumi, Tamim; Gagnon, Joseph E.; Saborowski, Christian - International Monetary Fund (IMF) - 2014

intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances …

Persistent link: https://www.econbiz.de/10010959470

The Yen-Dollar Rate; Have Interventions Mattered?

Ramaswamy, Ramana; Samiei, Hossein - International Monetary Fund (IMF) - 2000

Using daily data for 1995–99, this paper estimates a simple forward looking model of the exchange rate to show that foreign exchange interventions have, on the whole, had small but persistent effects on the yen-dollar rate. Contrary to conventional wisdom, sterilized interventions have...

Persistent link: https://www.econbiz.de/10005263985

Balance-Sheet Shocks and Recapitalizations

Sandri, Damiano; Valencia, Fabian - International Monetary Fund (IMF) - 2012

We develop a dynamic stochastic general equilibrium model with financial frictions on both financial intermediaries and goods-producing firms. In this context, due to high leverage of financial intermediaries, balance sheet disruptions in the financial sector are particularly detrimental for...

Persistent link: https://www.econbiz.de/10009654148

Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations

Georgiou, Andréas - International Monetary Fund (IMF) - 2009

The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often...

Persistent link: https://www.econbiz.de/10008460595

Central Bank Foreign Exchange Market Intervention and Option Contract Specification; The Case of Colombia

Mandeng, Ousmène - International Monetary Fund (IMF) - 2003

intervention. Option contract specifications determine the impact of options on the underlying asset or currency, and hence their …-based intervention. The paper reviews the experience of the systematic option-based foreign exchange market intervention of the Central …

Persistent link: https://www.econbiz.de/10005825716

From Fixed to Float; Operational Aspects of Moving towards Exchange Rate Flexibility

Fernandez, Gilda; Karacadag, Cem; Duttagupta, Rupa - International Monetary Fund (IMF) - 2004

market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the …

Persistent link: https://www.econbiz.de/10005826173

Official Intervention in the Foreign Exchange Market; Elements of Best Practice

Kriljenko, Jorge Iván Canales; Karacadag, Cem; … - International Monetary Fund (IMF) - 2003

This paper offers guidance on the operational aspects of official intervention in the foreign exchange market … counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and … disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention …

Persistent link: https://www.econbiz.de/10005826478

Banking in Sub-Saharan Africa; What Went Wrong?

Gall, Françoise Le; Daumont, Roland; Leroux, François - International Monetary Fund (IMF) - 2004

endemic crises associated with heavy government intervention in the banking system. In this regard, the paper analyzes the …

Persistent link: https://www.econbiz.de/10005769085

Lessons and Policy Implications From the Global Financial Crisis

Claessens, Stijn; Laeven, Luc; Igan, Deniz; … - International Monetary Fund (IMF) - 2010

The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial...

Persistent link: https://www.econbiz.de/10008519478

Capital Flows and their Macroeconomic Effects in India

Kohli, Renu - International Monetary Fund (IMF) - 2001

money supply. During a capital surge, these effects have been countered through intervention and sterilization. The paper …

Persistent link: https://www.econbiz.de/10005599217