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Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245886
Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while...
Persistent link: https://www.econbiz.de/10005826189
The simultaneous unwinding of leveraged positions can trigger financial market turbulence. Although balance-sheet measures of leverage are available, it is useful to construct a measure of leverage that incorporates both on- and off-balance-sheet activities. This paper provides measures of...
Persistent link: https://www.econbiz.de/10005263810
Many developing economies are heavily exposed to commodity markets, leaving them vulnerable to the vagaries of international commodity prices. This paper examines the use of commodity options-including plain vanilla, risk reversal, and barrier options-to hedge such risk. It then proposes the use...
Persistent link: https://www.econbiz.de/10005604862
Brazil, Russia, India, China and South Africa (BRICS). We contribute to addressing this gap by exploring the patterns of … de-industrialization (Brazil, Russia and South Africa). China is the only country where an expanding manufacturing sector …
Persistent link: https://www.econbiz.de/10010884080
HKUST's Department of Economics, reviews the efficacy of minimum wage policies across BRICS countries, i.e. Brazil, Russia …, minimum wages have had marked positive effects on labor markets, serving as a sort of "lighthouse effect"), while in Russia … and Brazil such regulations may have increased employment in informal labor markets. …
Persistent link: https://www.econbiz.de/10011274610
In this context, higher education as well as research and development (R&D) have long since ceased to be purely the domain of the developed Western economies. Numerous regions of the world, some in the emerging markets in particular – the often-cited BRIC countries – are catching...
Persistent link: https://www.econbiz.de/10009653328
One of the burning issues at the moment relates to increasing the “voice†or representation of emerging-market economies in international financial institutions such as the IMF and World Bank. There are many issues and challenges facing the monetary policy in emerging markets. In the...
Persistent link: https://www.econbiz.de/10005487649
Australia, but also for other economies with comparable resource exports such as Brazil, Canada, Chile, Russia and South Africa …
Persistent link: https://www.econbiz.de/10011129955
Russia, China, South Africa, Argentina and Brazil. …
Persistent link: https://www.econbiz.de/10011240261