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Financial Stability in Dollarized Economies
Gulde, Anne Marie; Hoelscher, David S.; Ize, Alain; … - International Monetary Fund (IMF) - 2004
This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The study’s conclusions are the basis of an ongoing policy dialogue with IMF member...
Persistent link: https://www.econbiz.de/10005824860
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Currency Risk Premia in Global Stock Markets
Merritt, Matthew D.; Roache, Shaun K. - International Monetary Fund (IMF) - 2006
Large fundamental imbalances persist in the global economy, with potential exchange rate implications. This paper assesses whether exchange rate risk is priced across G-7 stock markets. Given the multitude of hedging instruments available, theory suggests that stock market investors should not...
Persistent link: https://www.econbiz.de/10005826109
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RMB Internationalization; O+L5022nshore/Offshore Links
Maziad, Samar; Kang, Joong Shik - International Monetary Fund (IMF) - 2012
volatility spillovers between two markets. Overtime, those spillover channels would be expected to grow as the offshore market …
Persistent link: https://www.econbiz.de/10011242289
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Singapore; 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Sin...
International Monetary Fund (IMF); International … - 2009
This 2009 Article IV Consultation highlights that Singapore has been severely affected by the global downturn. The collapse in external demand has led to a sharp contraction in GDP, which fell by almost 13 percent in the first quarter of 2009. Executive Directors have observed that the floating...
Persistent link: https://www.econbiz.de/10011245646
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Developing Essential Financial Markets in Smaller Economies; Stylized Facts and Policy Options
International Monetary Fund (IMF); International … - 2008
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
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Northern Star; Canada's Path to Economic Prosperity
Klyuev, Vladimir; Mühleisen, Martin; Bayoumi, Tamim - International Monetary Fund (IMF) - 2007
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...
Persistent link: https://www.econbiz.de/10011245903
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Exchange Rate Fluctuations and International Portfolio Rebalancing in Thailand
Gyntelberg, Jacob; Tientip, Subhanij; Loretan, Mico - International Monetary Fund (IMF) - 2012
We present empirical evidence that the Thai baht’s value is driven in part by investors’ cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005...
Persistent link: https://www.econbiz.de/10011142113
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Price Volatility and Financial Instability
Leon, H. L.; Worrell, DeLisle - International Monetary Fund (IMF) - 2001
Statistical measures of the volatility of exchange rates, interest rates, and stock prices are estimated for a number … of countries. Periods of high volatility are identified and compared with periods of financial difficulty. The results … indicate that GARCH models of volatility could be potentially useful in assessing financial soundness. Daily data are more …
Persistent link: https://www.econbiz.de/10005769324
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Exchange Rate Risk Measurement and Management; Issues and Approaches for Firms
Papaioannou, Michael G. - International Monetary Fund (IMF) - 2006
Measuring and managing exchange rate risk exposure is important for reducing a firm's vulnerabilities from major exchange rate movements, which could adversely affect profit margins and the value of assets. This paper reviews the traditional types of exchange rate risk faced by firms, namely...
Persistent link: https://www.econbiz.de/10005825991
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A Quantitative Assessment of Financial Conditions in Asia
Osorio, Carolina; Unsal, D. Filiz; Pongsaparn, Runchana - International Monetary Fund (IMF) - 2011
We propose a new Financial Condition Index (FCI) for Asian economies based on two different methodologies: a VAR model and a Dynamic Factor Model. The paper shows that this index has predictive power in forecasting GDP growth and may be thus used as a leading indicator. Based on the FCI,...
Persistent link: https://www.econbiz.de/10009203540