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Macroeconomic Responses to Terms-of-Trade Shocks
Berkmen, Pelin - 2009
This paper presents a version of the global integrated monetary fiscal (GIMF) model adapted and calibrated to the Argentine economy. The model replicates the effect of the strong improvement in Argentina's terms of trade stemming from higher world commodity prices as well as other key economic...
Persistent link: https://www.econbiz.de/10012677786
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Foreign Reserve Adequacy in sub-Saharan Africa
Fund, International Monetary - 2008
reserves by comparing the cost of holding reserves with their benefits as an insurance against a shock. We find that the …
Persistent link: https://www.econbiz.de/10012677596
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International Reserves and Self-Insurance against External Shocks
Barnichon, Régis - 2008
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper develops an analytical...
Persistent link: https://www.econbiz.de/10012677607
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Sectoral Debt and Global Dollar Cycles in Developing Economies
Han, Bada - 2024
We explore the role of sectoral debt dynamics in shaping business cycles in a sample of 52 Emerging Market Economies (EMEs) and Frontier Market Economies (FMEs) from 2005 to 2021. Higher household debt levels and growth are associated with significantly slower GDP growth in more developed EMEs...
Persistent link: https://www.econbiz.de/10015058702
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Weathering the Storm So Far : The Impact of the 2003-05 Oil Shock on Low-Income Countries
Dudine, Paolo - 2006
Intro -- Contents -- I. INTRODUCTION -- II. THE GLOBAL AND HISTORICAL CONTEXT -- III. Balance of Payments Impact -- IV. FISCAL IMPACT -- V. LOOKING FORWARD-POSSIBLE VULNERABILITIES -- VI. CONCLUSIONS AND IMPLICATIONS FOR DEMAND FOR IMF RESOURCES -- APPENDIX I-COMPARISON TO OIL SHOCKS OF THE...
Persistent link: https://www.econbiz.de/10012691058
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Estimating Demand for IMF Financing by Low-Income Countries in Response to Shocks
Bal-Gunduz, Yasemin - 2009
This paper estimates factors affecting demand for Fund financing by Low-Income Countries (LICs) in response to policy and exogenous shocks. Various economic variables including reserve coverage, current account balance to GDP, real GDP growth, macroeconomic stability, and terms of trade shocks...
Persistent link: https://www.econbiz.de/10012677510
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Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries-A Cross Regional Perspective
Ötker, Inci - 2009
This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...
Persistent link: https://www.econbiz.de/10012677694
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Perspectiveson Low Global Interest Rates
Catão, Luis; Mackenzie, G. A. - International Monetary Fund (IMF) - 2006
This paper looks at the dramatic decline in global real interest rates in recent years from a historical perspective and examines the various factors that may account for this trend. We show that current levels of real interest rates on long-term bonds in advanced economies are not low by...
Persistent link: https://www.econbiz.de/10005264143
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Implications of Oil Inflows for Savings and Reserve Management in the Cemac
International Monetary Fund (IMF); International … - 2007
-term savings funds but due to low remuneration and other factors usage has remained limited. The paper also argues that regional … savings in the form of reserve accumulation must be sufficient to ensure the stability of the common currency. While the … country-specific savings decisions and the setting of a regional reserve target. Strengthening and diversifying reserve …
Persistent link: https://www.econbiz.de/10005599249
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Capital Markets and External Current Accounts; What to Expect From the Euro
Decressin, Jörg; Disyatat, Piti - International Monetary Fund (IMF) - 2000
The paper compares the degree of capital market integration across euro-area countries with that across regions in Italy and provinces in Canada. Analyzing saving-investment correlations, and developing as well as fitting to the data a model of capital flows, reveal no compelling differences...
Persistent link: https://www.econbiz.de/10005599615