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Leverage? : what leverage? ; a deep dive into the U.S. flow of funds in search of clues to the global crisis
Bhatia, Ashok Vir; Bayoumi, Tamim A. - 2012
This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral...
Persistent link: https://www.econbiz.de/10009618519
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Money and collateral
Kumar, Manmohan S.; Stella, Peter - 2012
Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of...
Persistent link: https://www.econbiz.de/10009614541
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An Investigation of Some Macro-Financial Linkages of Securitization
Long, Xin - 2009
financial sector stability) to the fast rise of securitization and the way it has arguably complicated both the conduct of … innovation, specifically through securitization, has altered the nature of some macro-financial linkages, often with considerable … policy implications. We find that securitization activity in the United States (mature market) and South Afr …
Persistent link: https://www.econbiz.de/10012677712
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The International Monetary System: Where Are We and Where Do We Need to Go?
Mohan, Rakesh; Patra, Michael Debabrata; Kapur, Muneesh - International Monetary Fund (IMF) - 2013
The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...
Persistent link: https://www.econbiz.de/10010790272
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Macroprudential Solvency Stress Testing of the Insurance Sector
Jobst, Andreas A.; Sugimoto, Nobuyasu; Broszeit, Timo - International Monetary Fund (IMF) - 2014
surveillance work. Recently, more emphasis has also been placed on the role of insurance for financial stability analysis. This …
Persistent link: https://www.econbiz.de/10011142085
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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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The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth; A Survey of Selected Mena Countries
Nothaft, Frank E.; Erbas, S. Nuri - International Monetary Fund (IMF) - 2002
This paper argues that making affordable home mortgage loans available to a large cross section of the population will serve both the redistributive and growth-enhancing objectives of poverty reduction policies. The current state of housing and mortgage markets in selected Middle East and North...
Persistent link: https://www.econbiz.de/10005825998
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Finance and Convergence; What's Ahead for Emerging Europe?
Schellekens, Philip; Bems, Rudolfs - International Monetary Fund (IMF) - 2007
This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies pragmatic directions for policymakers. While the "speed limits" to capital inflows...
Persistent link: https://www.econbiz.de/10005826219
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Possible Unintended Consequences of Basel III and Solvency II
International Monetary Fund (IMF); International … - 2011
In today's financial system, complex financial institutions are connected through an opaque network of financial exposures. These connections contribute to financial deepening and greater savings allocation efficiency, but are also unstable channels of contagion. Basel III and Solvency II should...
Persistent link: https://www.econbiz.de/10009203537
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Bank Funding in Central, Eastern and South Eastern Europe Post Lehman; A “New Normal�
Impavido, Gregorio; Rudolph, Heinz; Ruggerone, Luigi - International Monetary Fund (IMF) - 2013
CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consistently with uncertainties surrounding the future of the banking union project. In the...
Persistent link: https://www.econbiz.de/10011242175