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Signaling Credibility? The IMF and Catalytic Finance
Edwards, Martin S. - 2007
IMF programs are thought to function as a seal of approval to international markets, though evidence suggests Fund programs do not attract capital inflows. Existing studies fail to address the effects of selection into IMF programs, which raises questions about the robustness of the findings....
Persistent link: https://www.econbiz.de/10012776110
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Catalyzing Private Capital Flows : Do Imf-Supported Programs Work as Commitment Devices?
Mody, Ashoka; Saravia, Diego - 2021
provide a uniformly favorable signaling effect - that is, the mere existence of a program supported by the IMF does not act as …
Persistent link: https://www.econbiz.de/10013318004
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ECB Foreign Exchange Intervention and the Euro : Institutional Framework, News and Intervention
Fatum, Rasmus; Hutchison, Michael M. - 2013
Using a unique intervention "news" data set, this paper investigates the impact of ECB intervention and intervention-related "news" (newswire reports) on the euro exchange rate. A time-series study of "news" generated by ECB officials and market participants regarding intervention and the value...
Persistent link: https://www.econbiz.de/10014034101
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Catalyzing Capital Flows : Do IMF Programs Work as Commitment Devices?
Saravia, Diego; Mody, Ashoka - 2014
signaling effect, i.e., the mere presence of the IMF does not act as a strong seal of good housekeeping. Instead, the evidence …
Persistent link: https://www.econbiz.de/10014066259
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The EMU consolidation game - or: Does 3.0 really mean 3.0?
Heinemann, Friedrich - 1998
Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10013428121
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IMF's assistance : devil's kiss or guardian angel?
Brandes, Julia (contributor); Schüle, Tobias (contributor) - 2007
. Extending Morris and Shin (2006), we consider that the IMF's intervention policy usually exerts a signaling effect on private …'s signaling ability, our results state that repeated intervention is required to bail out a country, where by additional … assistance may induce moral hazard on the debtor side. Contrarily, if the IMF exerts a strong signaling effect, one single …
Persistent link: https://www.econbiz.de/10003636488
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The EMU consolidation game - or: does 3.0 really mean 3.0?
Heinemann, Friedrich - 1998
Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10011441024
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The EMU Consolidation Game - or: Does 3.0 Really Mean 3.0?
Heinemann, Friedrich - 1998
Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10010297571
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IMF's assistance: Devil's kiss or guardian angel?
Brandes, Julia; Schüle, Tobias - 2007
. Extending Morris and Shin (2006), we consider that the IMF's intervention policy usually exerts a signaling effect on private …'s signaling ability, our results state that repeated intervention is required to bail out a country, where by additional … assistance may induce moral hazard on the debtor side. Contrarily, if the IMF exerts a strong signaling effect, one single …
Persistent link: https://www.econbiz.de/10010301802
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On the Evolution of Credibility and Flexible Exchange Rate Target Zones
Avesani, Renzo; Gallo, Giampiero M; Salmon, Mark - C.E.P.R. Discussion Papers - 1995
This paper considers a new approach to the optimal management and analysis of exchange rate target zones by regarding the operation of a target zone as a dynamic signalling game between the monetary authorities and the financial markets. A Sequential Open Loop (Feedback) policy of sterilized...
Persistent link: https://www.econbiz.de/10005123996