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The Global Integrated Monetary and Fiscal Model (GIMF) : Theoretical Structure

Laxton, Douglas - 2010

This working paper presents a comprehensive overview of the theoretical structure of the Global Integrated Monetary and Fiscal Model (GIMF), a multi-region dynamic general equilibrium model that is used by the IMF for a variety of tasks including policy analysis, risk analysis, and surveillance

Persistent link: https://www.econbiz.de/10014402511

The Empirics of Exchange Rate Regimes and Trade : Words vs. Deeds

Qureshi, Mahvash Saeed - 2010

This paper examines the impact of exchange rate regimes on bilateral trade while differentiating the effects of ""words"" and ""deeds"". Our findings-based on an extended database for de jure and de facto exchange rate classifications-show that while fixed exchange rate regimes increase trade,...

Persistent link: https://www.econbiz.de/10014402578

Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations

Meza, Felipe - 2010

We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in...

Persistent link: https://www.econbiz.de/10014402822

Institutional Quality, Knightian Uncertainty, and Insurability : A Cross-Country Analysis

Erbas, S. Nuri - 2006

, financial sector depth, country risk, a measure of cost of insurance, and the World Bank governance indexes. We find that …

Persistent link: https://www.econbiz.de/10014402994

International Currency Portfolios

Kumhof, Michael - 2009

This paper develops a theory of international currency portfolios that holds in general equilibrium, and that is … short (long) position in foreign currency. (4) A fiscal theory of exchange rate determination is compatible with general … equilibrium in a two-country world. (5) Equilibria are determinate when both fiscal and monetary policy are passive …

Persistent link: https://www.econbiz.de/10014403178

A Primeron the IMF's Information Notice System

Desruelle, Dominique - 1997

This paper describes the methodology and the data used to compute nominal and real effective exchange rate indices in the International Monetary Fund’s Information Notice System (INS). In particular, it highlights improvements to the INS implemented over 1994-96, including modifications to the...

Persistent link: https://www.econbiz.de/10014403303

Are Currency Crises Predictable?

Valdés, Rodrigo O. - 1997

This paper studies whether exchange rate expectations and overvaluations are predictors of currency crises. The results suggest that overvaluation has predictive power in explaining crises. However, although expected depreciation obtained from survey data partially takes different measures of...

Persistent link: https://www.econbiz.de/10014403309

The Rationale and Design of Inflation-Indexed Bonds

Price, Robert T. - 1997

A number of industrialized countries have recently offered inflation-indexed bonds. Some members of another group of countries that had earlier adopted more comprehensive indexation in response to high inflation have taken steps to reduce the scope of indexation in their economies. This paper...

Persistent link: https://www.econbiz.de/10014403310

Long : Horizon Exchange Rate Predictability?

Giorgianni, Lorenzo - 1997

Several authors have recently investigated the predictability of exchange rates by fitting a sequence of long-horizon error-correction regressions. By considering the implied vector error-correction model, we show that little is to be gained from estimating such regressions for horizons greater...

Persistent link: https://www.econbiz.de/10014403313

Policy Implications of ""Second-Generation"" Crisis Models

Marion, Nancy P. - 1997

After the speculative attacks on government-controlled exchange rates in Europe and in Mexico, economists began to develop models of currency crises with multiple solutions. In these models, a currency crisis occurs when the economy suddenly jumps from one solution to another. This paper...

Persistent link: https://www.econbiz.de/10014403315

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