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The Role of the IMF in Well-Performing Low-Income Countries

Radelet, Steve - 2006

The IMF began to play a prominent role in low-income countries in the late 1970s and 1980s when many countries faced …-income countries no longer face these problems and do not need classic IMF programs. This paper explores options for the role of the … IMF in well-performing low-income countries that no longer require IMF financing. It argues that in these countries the …

Persistent link: https://www.econbiz.de/10005162618

The Costs and Benefits of Front-loading and Predictability of Immunization

Barder, Owen; Yeh, Ethan - 2006

How can the international community save more children’s lives faster and more effectively in the 21st century? This Working Paper analyzes the extent to which “frontloading” and predictable vaccine funding, as proposed by the International Finance Facility for Immunization (IFFIm), is...

Persistent link: https://www.econbiz.de/10005162627

A Stability and Social Investment Facility for High Debt Countries

Birdsall, Nancy - 2006

A number of high-debt emerging-market economies face structural, long-term debt problems that tend to keep their growth … countries, or globally. These high-debt emerging-market economies face an impossible choice between draconian and never …-ending fiscal austerity, or crisis and a “debt event.” Both “bitter pills" impose high social and economic costs. This paper …

Persistent link: https://www.econbiz.de/10005162657

Back to the Future for African Infrastructure? Why State-Ownership Is No More Promising the Second Time Around

Nellis, John - 2006

Too many African state-owned enterprises (SOEs), particularly those in infrastructure sectors, have a long history of poor performance. African governments and donors labored through the 1970s and 1980s to improve SOE performance through “commercialization”——i.e., methods short of...

Persistent link: https://www.econbiz.de/10005227027

Fiscal devaluations

Farhi, Emmanuel; Gopinath, Gita; Itskhoki, Oleg - 2012

The authors show that even when the exchange rate cannot be devalued, a small set of conventional fiscal policy instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a standard New Keynesian open economy environment. They perform the...

Persistent link: https://www.econbiz.de/10010343342

The pricing of FX forward contracts: Micro evidence from banks' dollar hedging

Abbassi, Puriya; Bräuning, Falk - 2018

We use transaction-level data on foreign exchange (FX) forward contracts for the period 2014 through 2016 in conjunction with supervisory balance sheet information to study the drivers of banks' dollar hedging costs. Comparing contracts of the same maturity that are initiated during the same...

Persistent link: https://www.econbiz.de/10012059597

The valuation effects of trade

Barbiero, Omar - 2021

This paper estimates the cash flow and real effects of currency mismatches generated by foreign-priced operations of French manufacturers. The value of transactions invoiced in foreign currencies is twice as sensitive to exchange rates as the value of transactions invoiced in the domestic...

Persistent link: https://www.econbiz.de/10012882643

Currency mismatch in the banking sector in Latin America and the Caribbean

Tobal, Martín - 2017

Existing literature uses data based on the residence principle to proxy for currency mismatch. This paper collects data on assets and liabilities broken by currency of denomination in the banking sector in Latin America and the Caribbean. I show that the information used in the literature cannot...

Persistent link: https://www.econbiz.de/10011788952

Incomplete markets and trade

Willen, Paul - 2004

In this paper, we show that incomplete markets lead to trade imbalances. We use a two-period general equilibrium model with countries composed of heterogeneous households. We look at a world where, when markets are complete, countries engage in balanced trade; and we show that when some of those...

Persistent link: https://www.econbiz.de/10010280921

Financial Regulations in Developing Countries: Can they Effectively Limit the Impact of Capital Account Volatility?

Rojas-Suarez, Liliana - 2005

This paper identifies two alternative forms of prudential regulation. The first set is formed by regulations that directly control financial aggregates, such as liquidity expansion and credit growth. An example is capital requirements as currently incorporated in internationally accepted...

Persistent link: https://www.econbiz.de/10005509590