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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
involving both acute external financing pressures and rapidly changing asset prices that undermine financial stability and …
Persistent link: https://www.econbiz.de/10005824823
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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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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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Structural Factors Affecting Exchange Rate Volatility; A Cross-Section Study
Kriljenko, Jorge Iván Canales; Habermeier, Karl Friedrich - International Monetary Fund (IMF) - 2004
The paper examines factors affecting exchange rate volatility, with an emphasis on structural features of the foreign exchange regime. It draws for the first time on detailed survey data collected by the IMF on foreign exchange market organization and regulations. Key findings are that...
Persistent link: https://www.econbiz.de/10005263740
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The Euro's Challenge to the Dollar; Different Views From Economists and Evidence From Cofer (Currency Composition of Foreign Exchange Reserves) and Other Data
Lim, Ewe-Ghee - International Monetary Fund (IMF) - 2006
This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes "network externalities," particularly undergirding continued...
Persistent link: https://www.econbiz.de/10005825711
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Equilibrium Exchange Rates; Assessment Methodologies
Isard, Peter - International Monetary Fund (IMF) - 2007
The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United States as of 2006, illustrates that different approaches sometimes provide...
Persistent link: https://www.econbiz.de/10005825724
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Monetary Independence in Emerging Markets; Does the Exchange Rate Regime Make a Difference?
Philippon, Thomas; Zettelmeyer, Jeromin; Borensztein, … - International Monetary Fund (IMF) - 2001
This paper compares the impact of shocks to U.S. interest rates and emerging market bond spreads on domestic interest rates and exchange rates across several emerging market economies with different exchange rate regimes. Consistent with conventional priors, the results indicate that interest...
Persistent link: https://www.econbiz.de/10005825800
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The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries; The Case of Thailand
Tchakarov, Ivan; Elekdag, Selim - International Monetary Fund (IMF) - 2006
Emerging market countries have enjoyed an exceptionally favorable economic environment throughout 2004, 2005, and early 2006. In particular, accommodative U.S. monetary policy in recent years has helped create an environment of low interest rates in international capital markets. However, if...
Persistent link: https://www.econbiz.de/10005825895
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The Transfer Problem Revisited; Net Foreign Assets and Real Exchange Rates
Milesi-Ferretti, Gian-Maria; Lane, Philip R. - International Monetary Fund (IMF) - 2000
in international economics. We use new data on countries’ net external positions together with real exchange rate data to … exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject …. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of …
Persistent link: https://www.econbiz.de/10005825933
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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