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Educational Choices and Educational Constraints; Evidence From Bolivia
Inchauste, Gabriela - International Monetary Fund (IMF) - 2000
Recent efforts at poverty alleviation emphasize increasing government spending on education. However, even if spending were perfectly targeted, it is not evident that spending by itself will lead to higher educational attainment. Bolivian household data is used in this paper to ascertain the...
Persistent link: https://www.econbiz.de/10005599365
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Banks' Liability Structure and Mortgage Lending During the Financial Crisis
Dagher, Jihad; Kazimov, Kazim - International Monetary Fund (IMF) - 2012
We examine the impact of banks’ exposure to market liquidity shocks through wholesale funding on their supply of credit during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand factors that could potentially be large when...
Persistent link: https://www.econbiz.de/10011142090
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Monetization in Low- and Middle-Income Countries
Kinoshita, Noriaki; McLoughlin, Cameron - International Monetary Fund (IMF) - 2012
The degree of an economy’s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal...
Persistent link: https://www.econbiz.de/10011142100
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Post-Laspeyres; The Case for a New Formula for Compiling Consumer Price Indexes
Armknecht, Paul A.; Silver, Mick - International Monetary Fund (IMF) - 2012
Consumer price indexes (CPIs) are compiled at the higher (weighted) level using Laspeyres-type arithmetic averages. This paper questions the suitability of such formulas and considers two counterpart alternatives that use geometric averaging, the Geometric Young and the (price-updated) Geometric...
Persistent link: https://www.econbiz.de/10011242235
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The Location of Domestic and Foreign Production Affiliates by French Multinational Firms
Méjean, Isabelle; Mayer, Thierry; Nefussi, Benjamin - International Monetary Fund (IMF) - 2010
Economists interested in location choices usually focus their attention on investments abroad. This neglects the fact that multinational enterprises continue to invest domestically while undertaking foreign expansion. This paper compares investments at home and abroad. Our firm-level dataset...
Persistent link: https://www.econbiz.de/10011242345
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Why House Price Indexes Differ; Measurement and Analysis
Silver, Mick - International Monetary Fund (IMF) - 2012
A key element in the build-up to the global recession and subsequently was the movement in house price indexes (HPIs). These indexes are particularly prone to methodological and coverage differences which can undermine both within-country and cross-country economic analysis. The paper outlines...
Persistent link: https://www.econbiz.de/10011242366
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Too Much Finance?
Berkes, Enrico; Panizza, Ugo; Arcand, Jean-Louis - International Monetary Fund (IMF) - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10010790393
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An Assessment of Estimates of Term Structure Models for the United States
Medeiros, Carlos I.; He, Ying - International Monetary Fund (IMF) - 2011
The paper assesses estimates of term structure models for the United States. To this end, this paper first describes … the mathematics underlying two types of term structure models, namely the Nelson-Siegel and Cox, Ingersoll and Ross family … of models, and the estimation techniques. It then presents estimations of some of specific models within these families …
Persistent link: https://www.econbiz.de/10009369442
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Do Commodity Futures Help Forecast Spot Prices?
Reichsfeld, David A; Roache, Shaun K. - International Monetary Fund (IMF) - 2011
does not depend on the slope of the futures curve, in contrast to the predictions of well-known models of commodity markets …
Persistent link: https://www.econbiz.de/10009369445
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Predicting Recessions; A New Approach for Identifying Leading Indicators and Forecast Combinations
Kisinbay, Turgut; Baba, Chikako - International Monetary Fund (IMF) - 2011
This study proposes a data-based algorithm to select a subset of indicators from a large data set with a focus on forecasting recessions. The algorithm selects leading indicators of recessions based on the forecast encompassing principle and combines the forecasts. An application to U.S. data...
Persistent link: https://www.econbiz.de/10009369447