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Morocco; Report on the Observance of Standards and Codes—Data Module; Response by the Authorities; and Detailed Assessments Using the Data Quality Assessment Framework
International Monetary Fund (IMF); International … - 2003
This Report on the Observance of Standards and Codes (ROSC) data module provides a review of Morocco’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an in-depth assessment of the quality of the national accounts, consumer...
Persistent link: https://www.econbiz.de/10005825276
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Modeling Aggregate Use of Fund Resources; Analytical Approaches and Medium-Term Projections
Ghosh, Atish R.; Zalduendo, Juan; Goretti, Manuela; … - International Monetary Fund (IMF) - 2007
This paper presents two approaches to modeling the use of IMF resources in order to gauge whether the recent decline in credit outstanding is a temporary or a permanent phenomenon. The two approaches-the time series behavior of credit outstanding and a two-stage program selection and access...
Persistent link: https://www.econbiz.de/10005825617
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Sovereign Debt Defaults and Financing Needs
Messmacher, Miguel; Kruger, Mark - International Monetary Fund (IMF) - 2004
We construct a financial vulnerability indicator that is consistent with the theoretical literature on determinants of defaults. It is based on the amount of new foreign financing that is needed to avoid a default or an import adjustment, expressed as a proportion of the country's sources of...
Persistent link: https://www.econbiz.de/10005768797
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Missing Link; Volatility and the Debt Intolerance Paradox
Catão, Luis; Kapur, Sandeep - International Monetary Fund (IMF) - 2004
A striking feature of sovereign lending is that many countries with moderate debt-to-income ratios systematically face higher spreads and more stringent borrowing constraints than others with far higher debt ratios. Earlier research has rationalized the phenomenon in terms of sovereign...
Persistent link: https://www.econbiz.de/10005769203
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How Does the Global Economic Environment Influence the Demand for IMF Resources
Elekdag, Selim - International Monetary Fund (IMF) - 2006
The main objective of this paper is to quantify the relationship between the global economic environment and the number of Stand-By Arrangements (SBAs). The results suggest that oil prices, world interest rates, and the global business cycle are the most influential indicators that affect the...
Persistent link: https://www.econbiz.de/10005604884
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Anticipating Arrears to the IMF Early Warning Systems
Oka, Chikako - International Monetary Fund (IMF) - 2003
This paper attempts to predict the incidence of arrears to the International Monetary Fund (IMF) by modifying and applying two of the major early warning systems for currency crises: the "signals" approach proposed by Kaminsky, Lizondo, and Reinhart (1997) and the probit-based alternative...
Persistent link: https://www.econbiz.de/10005605345
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Fiscal Expectations Under the Stability and Growth Pact; Evidence From Survey Data
International Monetary Fund (IMF); International … - 2011
The paper uses survey data to analyze whether financial market expectations on government budget deficits changed in France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings indicate that accuracy of financial expert deficit forecasts...
Persistent link: https://www.econbiz.de/10008876603
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Fiscal Sustainability and the Fiscal Reaction Function for South Africa
Jooste, Charl; Cuevas, Alfredo; Stuart, Ian C.; Burger, … - International Monetary Fund (IMF) - 2011
How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has...
Persistent link: https://www.econbiz.de/10009019588
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Identifying Fiscal Policy Transmission in Stochastic Debt Forecasts
Kawakami, Kei; Romeu, Rafael - International Monetary Fund (IMF) - 2011
A stochastic debt forecasting framework is presented where projected debt distributions reflect both the joint …-round effects of fiscal policy on macroeconomic projections. The forecasting framework thus reflects the impact of the primary … balance on the forecast of macro aggregates. Previously-developed forecasting algorithms that do not incorporate these second …
Persistent link: https://www.econbiz.de/10009019604
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Cambodia; 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2007
This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...
Persistent link: https://www.econbiz.de/10011244160